15/07/2024
Kurma Partners Proudly Announces the Completion of the Previously Announced Acquisition of its Portfolio Company Amolyt Pharma by AstraZeneca
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, July 15, 2024.
AstraZeneca today announced the successful completion of the acquisition of Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. The acquisition bolsters the Alexion, AstraZeneca Rare Disease late-stage pipeline and expands 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.
Under the terms of the definitive agreement, AstraZeneca has acquired all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05 billion, 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.
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.
AstraZeneca today announced the successful completion of the acquisition of Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. The acquisition bolsters the Alexion, AstraZeneca Rare Disease late-stage pipeline and expands 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.
Under the terms of the definitive agreement, AstraZeneca has acquired all of Amolyt Pharma’s outstanding shares for a total consideration of up to $1.05 billion, 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.
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.
