Published on 14 Mar 2024 on Zacks via Yahoo Finance
AstraZeneca (AZN) to Acquire Amolyt Pharma for $1.05 Billion
AstraZeneca AZN announced that it has entered into a definitive agreement to acquire Amolyt Pharma, a private clinical-stage biotech company developing novel treatments for rare endocrine diseases.
The impending acquisition is set to strengthen AZN’s late-stage rare disease pipeline and expand its bone metabolism franchise by adding late-stage pipeline candidate, eneboparatide (AZP-3601).
Eneboparatide, a PTH receptor 1 agonist with a novel mechanism of action, is Amolyt Pharma’s investigational candidate, which is currently being developed in a phase III study to treat chronic hypoparathyroidism.