AstraZeneca has made a billion-dollar swoop for French MedTech Amolyt Pharma.
Amolyt Pharma is a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases.
The acquisition bolsters Alexion, AstraZeneca’s rare disease late-stage pipeline, and expands on its bone metabolism franchise.
Under the terms of the agreement, AstraZeneca has acquired all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05bn.
This includes $800 million 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.
It could benefit patients with hypoparathyroidism, a deficiency in parathyroid hormone (PTH) production which results in significant dysregulation of calcium and phosphate and can lead to life-altering symptoms and complications including chronic kidney disease.