Paris-based private equity firm Andera Partners has agreed to sell its portfolio company, Amolyt Pharma, a global biopharmaceutical company specialising in developing therapeutic peptides for rare endocrine and related diseases, to British-Swedish multinational pharma AstraZeneca, in a deal worth up to $1.05bn.
Under the terms of the transaction, AstraZeneca will make an upfront payment of $800m, plus a potential milestone payment of $250m.
Andera Partners first invested in Amolyt in 2021, marking the first investment from its BioDiscovery 6 fund in France.
In a statement, Raphaël Wisniewski, a Partner at Andera Partners, said: “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 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.
Source: Private Equity Wire
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