AstraZeneca to acquire Amolyt Pharma for up to US$1.05bn
French endocrine diseases specialist Amolyt Pharma SA has entered into a take-over agreement by AstraZeneca.
Under the agreement set to close in Q3/2024, AstraZeneca will acquire Amolyt Pharma for US$800m upfront and potential milestone payments of US$250m. In just five years, the portfolio company of Andera Partners has created an early-stage pipeline and advanced its lead drug candidate eneboparatide to Phase III studies for hypoparathyroidism.
“This was our first investment of the BioDiscovery 6 fund in France,” said Raphaël Wisniewski, partner at Andera Partners. “This acquisition by AstraZeneca exemplifies the dynamism of biotech in France and Europe. We congratulate the management and employees of Amolyt who are dedicated to the development and the success of the company.
Amolyt Pharmas 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. AZP-3813 is a peptide growth hormone receptor antagonist for the potential treatment of acromegaly that is in Phase I.
Under the terms of the agreement, AstraZeneca will acquire all of Amolyt Pharmas outstanding shares for a total consideration of up to US$1.05bn, on a cash and debt free basis.
