AstraZeneca buying French company for $1.05bn to grow rare disease pipeline
The deal will expand AstraZeneca subsidiary Alexion’s late-stage rare disease pipeline in key areas beyond complement inhibition, building on the company's success in bone metabolism and opportunity in rare endocrinology.
AstraZeneca will acquire all of Amolyt Pharma's outstanding shares for a total 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 $250m on achievement of a specified regulatory milestone. It is hoped the acquisition will be signed and sealed by the third quarter of 2024.
Amolyt Pharma is a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases.
The proposed acquisition will bolster the Alexion, AstraZeneca Rare Disease late-stage pipeline and expand 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. Alexion is also looking forward to welcoming talent from Amolyt Pharma.
In patients with hypoparathyroidism, a deficiency in parathyroid hormone production results in significant dysregulation of calcium and phosphate, which can lead to life-altering symptoms and complications, including chronic kidney disease.
It is one of the largest known rare diseases, affecting an estimated 115,000 people in the United States and 107,000 people in the European Union, approximately 80 per cent of whom are women.
Marc Dunoyer, Chief Executive Officer, Alexion, AstraZeneca Rare Disease, said: “Chronic hypoparathyroid patients face a significant need for an alternative to current supportive therapies, which do not address the underlying hormone deficiency.
“As leaders in rare disease, Alexion is uniquely positioned to drive the late-stage development and global commercialisation of eneboparatide, which has the potential to lessen the often debilitating impact of low parathyroid hormone and avoid the risks of high-dose calcium supplementation.
“We believe this programme, together with Amolyt's talented team, expertise and earlier pipeline, will enable our expansion into rare endocrinology.”
Thierry Abribat, Chief Executive Officer, Amolyt Pharma, added: “We enthusiastically welcome the proposed acquisition of Amolyt by AstraZeneca, an organisation that shares our dedication to delivering life-changing treatments to people living with rare diseases.
“This agreement offers the opportunity to meaningfully advance our pipeline therapies. Strong Phase II data suggest eneboparatide has the potential to improve outcomes for patients and to shift the treatment paradigm for hypoparathyroidism, and we look forward to seeing the continued advancement of the Phase III trial.”
