AstraZeneca acquires Amolyt in $1B deal

AstraZeneca acquires Amolyt in $1B deal

AstraZeneca, a pharmaceutical giant, announced on Thursday its acquisition of Amolyt Pharma, a clinical stage biotechnology company, in a deal valued at up to $1.05 billion. This strategic move aims to bolster AstraZeneca‘s late-stage rare disease pipeline, orchestrated under the guidance of legal advisors Jones Day and Cooley LLP.

Bolstering Alexion Division and Bone Metabolism Franchise

The proposed acquisition of Amolyt is set to fortify AstraZeneca’s Alexion division, which specializes in late-stage rare diseases. Additionally, it will contribute to the expansion of the company’s bone metabolism franchise, promising further advancements in treatment options.

Jones Day and Cooley LLP served as legal counsel to Amolyt during the transaction. Notably, the Cooley team, led by partners Jamie Leigh, Bill Roegge, Laura Berezin, and Marc Recht, played instrumental roles in facilitating the deal.

AstraZeneca acquires Amolyt in $1B deal : Legal Counsel and Advisors

Freshfields Bruckhaus Deringer LLP provided legal counsel to AstraZeneca PLC throughout the acquisition process. Spearheaded by partners Sebastian Fain and Katie Stenstrom, with support from various associates, the Freshfields team ensured the smooth execution of the deal, addressing critical aspects including life sciences matters, executive compensation, tax considerations, competition issues, and foreign investment matters.

Significance for Rare Disease Treatment

Marc Dunoyer, the chief executive of Alexion, emphasized the significance of Amolyt’s expertise in treating chronic hypoparathyroidism. With the addition of eneboparatide, Amolyt’s lead clinical candidate, AstraZeneca aims to address the challenges posed by low levels of calcium in the blood, potentially benefiting patients with chronic kidney disease.

Financial Details and Expected Timeline

AstraZeneca, headquartered in Cambridge, England, will initially disburse $800 million to acquire all shares of Amolyt. An additional $250 million will be paid to shareholders upon the achievement of specified regulatory milestones. The completion of the deal is anticipated by September, pending customary closing conditions and regulatory approvals.

AstraZeneca acquires Amolyt in $1B deal : Building on Previous Success

The acquisition of Amolyt marks another significant milestone for AstraZeneca, following its acquisition of Alexion Pharmaceuticals Inc. in December 2020 for $39 billion. This strategic investment underscores AstraZeneca’s commitment to advancing rare disease treatments and solidifies its position as a leader in the pharmaceutical industry.

Future Prospects and Collaborative Efforts

Amolyt, headquartered in Écully, France, enjoys backing from investment companies Sofinnova Partners and Intermediate Capital Group. This partnership, initiated in January 2023, reflects a collaborative effort to drive innovation in the biotechnology sector and address unmet medical needs.