Cambridge-based international pharmaceutical company AstraZeneca has acquired the French clinical-stage biopharmaceutical startup Amolyt Pharma for $1.05 billion on a cash and debt-free basis. This acquisition will enable Alexion, AstraZeneca's Rare Disease division, to expand into rare endocrinology.
About Amolyt Pharma
- Lyon-based Amolyt Pharma was founded in 2015 by Thierry Abribat. The biotech startup develops treatments for rare endocrine diseases, including eneboparatide (AZP-3601), a PTH1 receptor agonist for hypoparathyroidism, and AZP-3813, a peptide growth hormone receptor antagonist for acromegaly.
About AstraZeneca
- AstraZeneca, headquartered in Cambridge, is a global biopharmaceutical firm that discovers, develops, and markets prescription medications in Oncology, Rare Diseases, BioPharmaceuticals, Cardiovascular, Renal World Metabolism, and Respiratory World Immunology. Its treatments are available in over 125 countries, benefiting millions of people throughout the world.
Details of the acquisition
- Amolyt's program, along with its talented team, expertise, and earlier pipeline, will enable AstraZeneca to strengthen its Alexion Rare Disease late-stage pipeline and expand its bone metabolism franchise. This expansion includes the addition of eneboparatide (AZP-3601), a Phase III investigational therapeutic peptide.
- AstraZeneca has acquired all of Amolyt Pharma's shares for a total of up to $1.05 billion, comprising an upfront payment of $800 million and a contingent payment of $250 million upon achieving regulatory milestones.
- The acquisition of Amolyt marks the third exit of Kurma Ventures’ Biofund III. Kurma Ventures initially backed Amolyt in 2019 during its Series A funding round of €67 million.
