AstraZeneca will acquire all outstanding shares of France-based Amolyt for up to $1.05 billion, including an $800 million upfront payment and an additional $250 million contingent upon regulatory milestones. The transaction, pending customary closing conditions and regulatory approvals, is slated for completion by the end of the third quarter of 2024.
Since the creation of its Rare Disease unit following the $39 billion takeover of Alexion Pharmaceuticals in 2021, AstraZeneca has continued to snatch up rare disease drugmakers, picking up New Jersey-based Caelum Biosciences in September 2021 and Massachusetts-based LogicBio Therapeutics in October 2022.