AstraZeneca Closes Acquisition of Amolyt Pharma
15 July 2024 - 4:00PM
UK Regulatory
AstraZeneca Closes Acquisition of Amolyt Pharma
LYON, France and CAMBRIDGE, Mass., July 15, 2024
(GLOBE NEWSWIRE) -- Amolyt Pharma, a global, clinical-stage
biopharmaceutical company specializing in developing therapeutic
peptides for rare endocrine and related diseases, today announced
that its previously announced acquisition by the global
pharmaceutical company, AstraZeneca, has closed.
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. This programme,
together with Amolyt’s talented team, expertise, and earlier
pipeline, will enable Alexion’s expansion into rare
endocrinology.
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.
About Amolyt Pharma
Amolyt Pharma, a clinical stage biotechnology
company, is building on its team’s established expertise to deliver
life-changing 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. To learn more, visit https://amolytpharma.com/ or
follow us on Twitter and LinkedIn.
Amolyt Contact:
Patrick Loustau
Chief Business Officer
ploustau@amolyt.com
Media inquiries:
Jordyn Temperato
LifeSci Communications
jtemperato@lifescicomms.com