EXHIBIT 99.2

FOR IMMEDIATE RELEASE

CONTACTS:

                                                                 
Alexion Pharmaceuticals, Inc.    Noonan/Russo Communications, Inc.     Nexus Communications
                                 Ernie Knewitz (Media)
Leonard Bell, M.D.               (212) 696-4455 Ext. 204               Rhonda Chiger (Investor)

President & CEO                                                        (917) 322-2569

(203) 272-2596





ALEXION ANNOUNCES COMPLETION OF PHASE I PSORIASIS PILOT SAFETY STUDY


Cheshire, CT, June 7, 2001 -- Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN)
announced today that it has completed a Phase I pilot safety trial in psoriasis
patients with its humanized monoclonal antibody C5 complement inhibitor, 5G1.1.

Alexion has completed the preliminary analysis of a pilot clinical study of
5G1.1 administration for two months in 40 psoriasis patients. The primary
objective of the trial was to examine safety of 5G1.1 in this psoriasis
population. 5G1.1 appeared to be safe and well tolerated in this study
population. The few adverse events noted most commonly included headache and
nonspecific pain. Forty percent of placebo-treated patients and 10% of
drug-treated patients withdrew prematurely. In this pilot Phase I trial, drug
administration did not influence the clinical outcome as measured by Psoriasis
Area and Severity Index score, although favorable trends in certain measures of
disease activity were observed. Drug administration dose-dependently blocked
hemolytic activity in the blood of treated patients and dose-dependently reduced
deposition of activated terminal complement in psoriatic plaques. The company
expects that data will be presented at a subsequent scientific meeting.

"We are encouraged by the observation that drug administration appears to have
been well tolerated, blocked complement activation in psoriatic skin plaques,
and may have been associated with additional beneficial effects in these
patients," commented Dr. Leonard Bell, President and Chief Executive Officer of
Alexion. "In this light, following complete analysis of the data and
consideration of strategic product development imperatives, we may consider
further clinical development of 5G1.1 in patient populations with psoriasis or
psoriatic arthritis. Additionally, we are currently evaluating 5G1.1 in five
other clinical indications."

Alexion is engaged in the discovery and development of therapeutic products
aimed at treating patients with a wide array of severe disease states, including
cardiovascular and autoimmune disorders, inflammation and cancer. Alexion's two
lead product candidates are currently in eight clinical development programs.
Alexion is developing its antibody fragment, pexelizumab, in collaboration with
Procter & Gamble, and has completed a Phase IIb study in patients undergoing
cardiopulmonary bypass, and together the firms are currently conducting two
large Phase II studies with pexelizumab in acute myocardial infarction patients.
Alexion's other lead product candidate, 5G1.1, has recently completed a Phase II
trial for the treatment of rheumatoid arthritis. 5G1.1 is also in a Phase II
trials for the treatment of membranous nephritis and also lupus nephritis and
earlier stage clinical trials for the treatment of dermatomyositis and
pemphigoid. Additionally, through the creation of its wholly owned subsidiary,
Alexion Antibody Technologies, Inc., Alexion is engaged in discovering and
developing a portfolio of additional antibody therapeutics targeting severe
unmet medical needs. This press release and further information about Alexion
Pharmaceuticals, Inc. can be found on the World Wide Web at:
www.AlexionPharm.com.



This news release contains forward-looking statements. Such statements are
subject to certain factors which may cause Alexion's plans to differ or results
to vary from those expected, including unexpected pre-clinical or clinical
results (including any resulting termination or delay in clinical programs or
inability to move forward to the next Phase of clinical development), the need
for additional research and testing, delays in manufacturing, access to capital
and funding, delays and adverse changes in development of commercial
relationships and a variety of risks set forth from time to time in Alexion's
filings with the Securities and Exchange Commission, including but not limited
to the risks discussed in Alexion's Annual Report on Form 10-K for the year
ended July 31, 2000. Except in special circumstances in which a duty to update
arises when prior disclosure becomes materially misleading in light of
subsequent events, Alexion does not intend to update any of these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.