AstraZeneca (NASDAQ: NASDAQ:AZN) has announced a definitive agreement to purchase Amolyt Pharma, a biotech firm specializing in rare endocrine diseases. This acquisition, costing up to $1.05 billion, aims to enhance AstraZeneca's Alexion (NASDAQ:ALXN) Rare Disease division, particularly its bone metabolism portfolio, by adding the Phase III candidate eneboparatide (AZP-3601).
Eneboparatide is an investigational therapeutic peptide for hypoparathyroidism, a condition where deficient parathyroid hormone production leads to disrupted calcium and phosphate balance. This can result in severe symptoms and complications, including chronic kidney disease. Hypoparathyroidism is one of the largest known rare diseases, affecting around 115,000 individuals in the United States and 107,000 in the European Union.
Marc Dunoyer, CEO of Alexion, highlighted the need for alternative treatments for chronic hypoparathyroid patients. He emphasized Alexion's capability to advance the development and global commercialization of eneboparatide. The acquisition is also expected to bring in Amolyt's expertise and early pipeline, which could expand Alexion's reach into rare endocrinology.
Thierry Abribat, CEO of Amolyt Pharma, expressed enthusiasm about the acquisition, noting the strong Phase II data suggesting eneboparatide's potential to improve patient outcomes and change the treatment paradigm for hypoparathyroidism.
The financial terms of the agreement include an $800 million upfront payment and a potential additional $250 million contingent upon reaching a regulatory milestone. The transaction, subject to regulatory approvals and other customary closing conditions, is anticipated to be finalized by the end of the third quarter of 2024.
The addition of eneboparatide to AstraZeneca's portfolio is significant as Phase II data indicated its ability to normalize serum calcium levels, potentially reducing the need for daily calcium and vitamin D supplements. Furthermore, it showed promise in normalizing calcium in urine and preserving bone mineral density, which are crucial for patients at risk of osteopenia or osteoporosis.
This strategic acquisition is based on a press release statement.
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