AstraZeneca completes acquisition of Amolyt Pharma

AstraZeneca announced the successful completion of the acquisition of Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. “The acquisition bolsters the Alexion, AstraZeneca Rare Disease late-stage pipeline and expands on its bone metabolism franchise with the notable addition of eneboparatide, or 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, or 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 talent, 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 $1.05B, 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. AstraZeneca looks forward to welcoming the employees of Amolyt Pharma,” the company stated.