AstraZeneca to acquire Amolyt Pharma
14 Mar 2024
Phase 1AcquisitionPhase 3
AstraZeneca will acquire Amolyt Pharma, a clinical-stage biotech company specializing in the development of treatments for rare endocrine disorders.
The move, executed through Alexion, AstraZeneca Rare Disease, will further strengthen the drugmaker's late-stage pipeline in rare endocrine disease through the acquisition of eneboparatide (AZP-3601), a phase 3 therapeutic peptide. Eneboparatide, designed to treat hypoparathyroidism, binds selectively to the parathyroid hormone receptor, regulates serum calcium levels, reduce urinary calcium excretion, and potentially prevent kidney function decline and chronic kidney disease.
Amolyt's pipeline also includes AZP-3813, a phase 1 peptide growth hormone receptor antagonistgrowth hormone receptor antagonist for the potential treatment of acromegaly, a disorder that occurs when the body makes too much growth hormone.
AstraZeneca will acquire all outstanding shares of France-based Amolyt for up to $1.05 billion, including an $800 million upfront payment and an additional $250 million contingent upon regulatory milestones. The transaction, pending customary closing conditions and regulatory approvals, is slated for completion by the end of the third quarter of 2024.
Since the creation of its Rare Disease unit following the $39 billion takeover of Alexion Pharmaceuticals in 2021, AstraZeneca has continued to snatch up rare disease drugmakers, picking up New Jersey-based Caelum Biosciences in September 2021 and Massachusetts-based LogicBio Therapeutics in October 2022.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.