Amolyt Pharma, an Andera Partners’ portfolio company, announces its sale to AstraZeneca

• AstraZeneca will acquire Amolyt Pharma for up to $1.05 billion in total consideration
• The transaction is expected to close in the third quarter of 2024

Paris (France), Lyon (France), and Cambridge, MA, March 14, 2024 — Amolyt Pharma, a global, clinical-stage biopharmaceutical company specializing in developing therapeutic peptides for rare endocrine and related diseases, today announced it has entered into a definitive agreement for AstraZeneca to acquire Amolyt Pharma at a purchase price of $800 million upfront and a potential milestone payment of $250 million. Alexion, AstraZeneca Rare Disease is looking forward to welcoming talent from Amolyt Pharma.

“We are proud of the remarkable achievements of our team in building and developing a portfolio of therapeutic peptides with the potential to address 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. We are grateful to the investigators, patients, and patient associations who have supported us to reach these goals,” said Thierry Abribat, Ph.D., Founder and Chief Executive Officer of Amolyt Pharma. “We are looking forward to the development of our portfolio as part of Alexion, AstraZeneca Rare Disease, an organization with proven expertise and a successful track-record in bringing innovative therapies to patients with rare diseases globally.”

Raphaël Wisniewski, partner at Andera Partners, commented: “We are proud to have accompanied Amolyt since 2021. This was the first investment of the BioDiscovery 6 fund in France. The company led by Thierry Abribat and an exceptional management team has developed innovative therapies for rare endocrine diseases. This acquisition by AstraZeneca exemplifies the dynamism of biotech in France and Europe. We congratulate the management and employees of Amolyt who are dedicated to the development and the success of the company.“

Amolyt’s clinical pipeline includes differentiated therapeutic peptides for the treatment of underserved rare endocrine disease. Eneboparatide (AZP-3601) is an investigational daily subcutaneous injectable parathyroid hormone receptor 1 (PTHR1) agonist for the treatment of hypoparathyroidism, that is currently in Phase 3. AZP-3813 is a peptide growth hormone receptor antagonist for the potential treatment of acromegaly that is in Phase 1.

Terms of the agreement

Under the terms of the agreement, AstraZeneca will acquire all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05B, 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.  

Subject to the satisfaction of customary closing conditions in the acquisition agreement, including regulatory clearances, the transaction is expected to close by the end of the third quarter of 2024.

Centerview Partners LLC and Goldman Sachs Bank Europe SE acted as financial advisors to Amolyt, and Cooley LLP and Jones Day acted as legal counsels for Amolyt and its shareholders.

About Andera Partners

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €4.1 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).

Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which count nearly 115 professionals, of which 69 investment professionals. It is structured as a partnership and managed by a board of 12 partners.

Andera's 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies.

Media Contacts

Andera Partners 

Nicolas Delsert
Communications Manager

17

PR Agency

Dr. Cora Kaiser
MC Services

60