Astrazeneca has agreed to acquire Amolyt Pharma, a clinical-stage biotech with a focus on rare endocrine diseases, for up to $1.05bn (£819m).
This acquisition will enhance AstraZeneca’s late-stage rare disease pipeline, particularly its bone metabolism franchise, with the addition of eneboparatide (AZP-3601), a Phase III investigational therapeutic peptide targeting chronic hypoparathyroidism.
Hypoparathyroidism is a rare condition in which a deficiency of parathyroid hormone results in decreased calcium and elevated phosphorus levels in the blood. It can lead to life-altering symptoms and complications, including chronic kidney disease.
Eneboparatide has the potential to lessen the impact of low parathyroid hormone and avoid the risks of high-dose calcium supplementation, said Marc Dunoyer, CEO of Alexion, AstraZeneca Rare Disease.
The deal comprises an upfront payment of $800m (£624m) at closing, plus an additional $250m (£195m) contingent upon achieving a specified regulatory milestone.
Subject to regulatory clearance and other customary closing conditions, the acquisition is expected to be completed by the end of the third quarter of 2024.
