AstraZeneca, a global biopharmaceutical company, has successfully completed its acquisition of the clinical-stage biotech company, Amolyt Pharma.
This strategic investment will enhance the company's late-stage pipeline in rare disease, while also boosting its bone metabolism franchise with eneboparatide (AZP-3601) — a therapeutic peptide for hypoparathyroidism currently in Phase III clinical trials.
Hypoparathyroidism is a disease that affects pararthyroid hormone production, causing dysregulation of calcium and phosphate and life-altering symptoms in patients. It is also associated with chronic kidney disease.
The eneboparatide programme, along with Amolyt's expertise, will enable AstraZeneca to expand further into rare endocrinology, offering solutions to patient groups with significant unmet needs.
Financial terms of the agreement
AstraZeneca has acquired all of Amolyt Pharma's outstanding shares — for a total consideration of up to USD $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.