AstraZeneca (AZ; NASDAQ: AZN) has finalized a definitive agreement to acquire France-based biopharmaceutical company Amolyt Pharma for an upfront payment of $800 million, with an additional potential milestone payment of $250 million. The transaction is anticipated to close by the third quarter of 2024, pending customary regulatory approvals.
Amolyt Pharma specializes in developing peptide-based therapeutics targeting rare endocrine and related diseases. Its lead candidate, eneboparatide, is a PTHR1 agonist currently in Phase III trials for the treatment of hypoparathyroidism. Additionally, Amolyt’s pipeline features the early-stage candidate AZP-3813, a peptide growth hormone receptor antagonist aimed at treating acromegaly.
Founded by Sofinnova Partners, a prominent life sciences venture capital firm, Amolyt Pharma is poised to enhance AstraZeneca’s portfolio in the rare disease therapeutic space.- Flcube.com
