FX.co ★ AstraZeneca To Buy Amolyt Pharma For Up To $1.05 Bln To Expand Late-stage Rare Disease Pipeline

British pharmaceutical giant AstraZeneca Plc. has shared its decision to acquire Amolyt Pharma, a biotechnology company engaged in the study and treatment of rare endocrine diseases, which is presently at the clinical-stage.

Under the conditions of the agreement, AstraZeneca has committed to purchasing Amolyt Pharma for a total payment, including cash and debt, of up to $1.05 billion. It is noteworthy that this amount includes an upfront payment of $800 million that would be given at the closing of the deal. Along with this, the shareholders of Amolyt Pharma are entitled to an additional contingent payment of $250 million, subject to the achievement of a certain regulatory milestone.

The acquisition is likely to be finalized by the end of 2024's third quarter. However, its completion is dependent on the fulfillment of standard closing conditions listed in the acquisition agreement, which also includes necessary regulatory approvals.

Amolyt Pharma has been working on a Phase III investigational therapeutic peptide, named eneboparatide (AZP-3601). This innovation exhibits a novel mechanism of action, constructed to fulfill essential therapeutic goals for hypoparathyroidism. AstraZeneca expects that the proposed acquisition will enrich Alexion, its Rare Disease late-stage pipeline, and magnify its bone metabolism franchise.

Expressing his views on this development, Marc Dunoyer, the Chief Executive Officer of Alexion, AstraZeneca Rare Disease, said, "Alexion, being frontrunners in rare disease, is perfectly positioned to steer the late-stage development and worldwide commercialization of eneboparatide. This has the probable capacity to ease the often severe consequences of low parathyroid hormone and prevent the hazards of high-dose calcium supplementation. We believe in our collaboration with Amolyt's proficient team, their proficiency and prior pipeline, which will support our growth in the domain of rare endocrinology."

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