15.07.2024 08:00:04 - dpa-AFX: GNW-Adhoc: AstraZeneca Closes Acquisition of Amolyt Pharma
LYON, France and CAMBRIDGE, Mass., July 15, 2024 (GLOBE NEWSWIRE) -- Amolyt
Pharma, a global, clinical-stage biopharmaceutical company specializing in
developing therapeutic peptides for rare endocrine and related diseases, today
announced that its previously announced (https://www.astrazeneca.com/media-
centre/press-releases/2024/astrazeneca-to-acquire-amolyt.html) acquisition by
the global pharmaceutical company, AstraZeneca, has closed.
The acquisition bolsters the Alexion, AstraZeneca Rare Disease late-stage
pipeline and expands on its bone metabolism franchise with the notable addition
of eneboparatide (AZP-3601), a Phase III investigational therapeutic peptide
with a novel mechanism of action designed to meet key therapeutic goals for
hypoparathyroidism. In patients with hypoparathyroidism, a deficiency in
parathyroid hormone (PTH) production results in significant dysregulation of
calcium and phosphate, which can lead to life-altering symptoms and
complications, including chronic kidney disease. This programme, together with
Amolyt's talented team, expertise, and earlier pipeline, will enable Alexion's
expansion into rare endocrinology.
Under the terms of the definitive agreement, AstraZeneca has acquired all of
Amolyt Pharma's outstanding shares for a total consideration of up to $1.05
billion, on a cash and debt free basis. This includes $800 million upfront at
deal closing, plus the right for Amolyt Pharma's shareholders to receive an
additional contingent payment of $250 million payable upon achievement of a
specified regulatory milestone.
About Amolyt Pharma
Amolyt Pharma, a clinical stage biotechnology company, is building on its team's
established expertise to deliver life-changing treatments to patients suffering
from rare endocrine and related diseases. Its development portfolio includes
eneboparatide (AZP-3601), a long-acting PTH1 receptor agonist as a potential
treatment for hypoparathyroidism, and AZP-3813, a peptide growth hormone
receptor antagonist for the potential treatment of acromegaly. To learn more,
visit https://amolytpharma.com/ or follow us on Twitter
(https://twitter.com/amolytpharma) and LinkedIn
(https://www.linkedin.com/company/amolytpharma/).
Amolyt Contact:
Patrick Loustau
Chief Business Officer
ploustau@amolyt.com (mailto:ploustau@amolyt.com)
Media inquiries:
Jordyn Temperato
LifeSci Communications
jtemperato@lifescicomms.com (mailto:jtemperato@lifescicomms.com)
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