AstraZeneca Wants to Acquire Amolyt Pharma for $1.05 Billion

Amolyt Pharma has entered into a definitive agreement to be acquired by AstraZeneca according to a press release published by the company on March 14, 2024. The transaction which is worth up to $1.05 billion is expected to be completed in the third quarter of this year, subject to the customary closing conditions in the agreement and regulatory clearances.

Amolyt Pharma is “a global, clinical-stage biopharmaceutical company specializing in developing therapeutic peptides for rare endocrine and related diseases”. Investors like EQT Life Sciences and Novo Holdings, the parent company of Danish drugmaker Novo Nordisk back the company. 

Upon completion of the acquisition, the talents at Amolyt Pharma will team up with AstraZeneca Rare Disease to help discover curative therapeutics for rare diseases. According to AstraZeneca Rare Disease, 400 million people across the globe are living with a rare disease. Also, they said over 10,000 rare diseases are known to be in existence today and that 90% of them don’t have an approved treatment option.

AstraZeneca Rare Disease said it is on a mission to transform the lives of people impacted by rare diseases. According to the team, by understanding the unique needs of patients, they can research and develop innovative medicines. 

Terms of the agreement

According to the terms of the agreement, AstraZeneca is expected to pay 800 million upfront at the close of the deal. Also, Amolyt Pharma’s shareholders have the right to receive an additional contingent payment of $250 million if a specified regulatory milestone is met. 

Amolyt has a robust clinical pipeline that includes two differentiated therapeutic peptides for the treatment of underserved rare endocrine diseases. 

• The first is eneboparatide (AZP-3601): an investigational daily subcutaneous injectable parathyroid hormone receptor 1 (PTHR1) agonist for the treatment of hypoparathyroidism, that is currently in Phase 3 or late development stage
• The second is AZP-3813: a peptide growth hormone receptor antagonist for the potential treatment of acromegaly that is in Phase 1

AstraZeneca acquired Alexion in 2021 for a staggering $39 billion. However, that acquisition has boosted the revenue from its rare disease portfolio which grew to almost $7.8 billion in 2023.

Amolyt Pharma is looking forward to expanding its portfolio

Founder and CEO of Amolyt Pharma Thierry Abribat, Ph.D., said he was proud of the therapeutic peptide portfolio that his team has built which has the potential of addressing significant unmet needs for “rare endocrine and related diseases, having advanced eneboparatide to Phase 3 for hypoparathyroidism and created an early-stage pipeline in less than 5 years”.

Abribat said they were looking forward to the development of their portfolio as part of Alexion, AstraZeneca Rare Disease which has a proven track record in “bringing innovative therapies to patients with rare diseases globally”.

“Today’s announcement recognizes the significant value we have built for our shareholders and patients,” said Pierre Legault, Chairman of Amolyt Pharma’s Board of Directors. “We are confident that with Alexion, our innovative science will be even better positioned to ultimately reach patients with rare diseases around the world.”

Speaking on the acquisition, Alexion, AstraZeneca Rare Disease CEO Marc Dunoyer said the company is uniquely positioned to “drive the late-stage development and global commercialization of eneboparatide” which has the potential to lower the negative impact of low parathyroid hormone. Dunoyer said that with the help of the Amolyt Pharma team, Alexion can expand into rare endocrinology.

Speaking with Reuters, Dunoyer said the result from the phase 3 trial of eneboparatide is expected next year and would likely be followed by a launch. According to Dunoyer, the therapy, when approved, has the potential of generating over $1 billion annually in sales.