Amolyt Pharma, an Ecully, France global, clinical-stage biopharmaceutical company specializing in developing therapeutic peptides for rare endocrine and related diseases, announced that its previously announced acquisition by global pharmaceutical company AstraZeneca (LSE/STO/Nasdaq: AZN), has closed.
Under the terms of the definitive agreement, AstraZeneca has acquired all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05 billion, on a cash and debt free basis. This includes $800 million upfront at deal closing, plus the right for Amolyt Pharma’s shareholders to receive an additional contingent payment of $250 million payable upon achievement of a specified regulatory milestone.
The acquisition bolsters the Alexion, AstraZeneca Rare Disease late-stage pipeline and expands on its bone metabolism franchise with the notable addition of eneboparatide (AZP-3601), a Phase III investigational therapeutic peptide with a novel mechanism of action designed to meet key therapeutic goals for hypoparathyroidism. In patients with hypoparathyroidism, a deficiency in parathyroid hormone (PTH) production results in significant dysregulation of calcium and phosphate, which can lead to life-altering symptoms and complications, including chronic kidney disease. The programme, together with Amolyt’s team, expertise, and earlier pipeline, will enable Alexion’s expansion into rare endocrinology.
Amolyt Pharma is a clinical stage biotechnology company building on its team’s established expertise to deliver treatments to patients suffering from rare endocrine and related diseases. Its development portfolio includes eneboparatide (AZP-3601), a long-acting PTH1 receptor agonist as a potential treatment for hypoparathyroidism, and AZP-3813, a peptide growth hormone receptor antagonist for the potential treatment of acromegaly.
FinSMEs
15/07/2024