Amolyt Pharma, a global, clinical-stage biopharmaceutical company specialising in developing therapeutic peptides for rare endocrine and related diseases, today announced it has entered into a definitive agreement for AstraZeneca to acquire Amolyt Pharma at a purchase price of USD $800m upfront and a potential milestone payment of $250m.
“We have built and developed a portfolio of therapeutic peptides with the potential to address unmet needs for rare endocrine and related diseases, having advanced eneboparatide to Phase 3 for hypoparathyroidism and created an early-stage pipeline in less than 5 years. We are grateful to the investigators, patients, and patient associations who have supported us to reach these goals,” said Thierry Abribat, Ph.D., Founder and CEO of Amolyt Pharma.
Marc Dunoyer, the CEO of Alexion — AstraZeneca’s Rare Disease faction, said: “Chronic hypoparathyroid patients face a significant need for an alternative to current supportive therapies, which do not address the underlying hormone deficiency. 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.”
Amolyt’s clinical pipeline includes differentiated therapeutic peptides for the treatment of underserved rare endocrine disease. Eneboparatide (AZP-3601) is an investigational daily subcutaneous injectable parathyroid hormone receptor 1 (PTHR1) agonist for the treatment of hypoparathyroidism, that is currently in Phase 3.
AZP-3813 is a peptide growth hormone receptor antagonist for the potential treatment of acromegaly that is in Phase 1.
Terms of the agreement
Under the terms of the agreement, AstraZeneca will acquire all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05bn, on a cash and debt free basis. This includes $800m upfront at deal closing, plus the right for Amolyt Pharma’s shareholders to receive an additional contingent payment of $250m payable upon achievement of a specified regulatory milestone.
Subject to the satisfaction of customary closing conditions in the acquisition agreement, including regulatory clearances, the transaction is expected to close by the end of the third quarter of 2024.
