Following Emergence and Corlieve, Amolyt marks the third major exit of Kurma Biofund III and the first exit of Kurma Growth Opportunities Fund, showcasing the team's unique expertise in transforming European research into biotech leaders.

Paris, March 14, 2024 - AstraZeneca announced that it has entered into a definitive agreement to acquire Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. Amolyt Pharma will join the AstraZeneca Group as part of Alexion, AstraZeneca Rare Disease.

The proposed acquisition will bolster Alexion’s late-stage rare disease pipeline and expand 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. Additionally, Alexion will seek to welcome talent from Amolyt Pharma.

Under the terms of the agreement, AstraZeneca will pay Amolyt Pharma ’s equity holders $800 million in cash at the closing of the transaction, subject to customary purchase price adjustments. Additionally, Amolyt Pharma ’s equity holders are entitled to receive a n additional contingent payment of $250 million upon achievement of a single regulatory milestone.

Kurma has backed Amolyt Pharma since 2019 as co-lead investor of an oversubscribed Series A financing of €67 million. ”We are proud of having been part of the successful journey of Amolyt from its early days, said Thierry Laugel, founder and Managing Partner of Kurma Partners. We are grateful to Thierry Abribat and its team for their insights and execution.”

Following Emergence Therapeutics and Corlieve Therapeutics, Amolyt Pharma is the third major exit of Kurma Partners’ current fund, Biofund III. It is also the first exit for our latest Kurma Growth Opportunities fund.

"Kurma Partners has built a unique proposition over the last decade, not only in crafting global European leaders such as Amolyt or Emergence from the start but also in showing by its investment strategies lead in generating returns in a complex life science sector”, comments Olivier Millet, member of the executive board of Eurazeo.