UK-based pharmaceutical company BioMarin has agreed to acquire Inozyme Pharma, a US-based biopharmaceutical company, for up to $270m.
Under the terms of the merger agreement, BioMarin will initiate a cash tender offer for all outstanding Inozyme shares at $4 per share.
Once the tender offer is completed, a BioMarin subsidiary will merge with Inozyme, converting remaining shares to cash.
The closing of the tender offer is subject to standard conditions, including antitrust approval.
The acquisition, approved by both companies’ boards, is set to close in the third quarter of 2025, pending regulatory approval and customary conditions.
It will strengthen BioMarin’s enzyme therapies, including the addition of INZ-701, a late-stage enzyme replacement therapy.
BioMarin president and CEO Alexander Hardy said: “BioMarin has been deeply committed to advancing enzyme therapies for children and adults living with serious genetic conditions for more than 25 years, and today’s agreement builds on our legacy.
“This acquisition brings to BioMarin an important medicine that has the potential to be the first treatment for children and adults with ENPP1 Deficiency, improving care for people living with this serious condition.
“As BioMarin continues our transformation and delivers on our corporate strategy, we will continue to evaluate external innovation alongside internal innovation.
“We are in a strong financial position to bring in additional assets as we accelerate the development of medicines for patients with significant unmet need.”
The acquisition includes INZ-701, currently under evaluation for treating ectonucleotide pyrophosphatase/phosphodiesterase 1 (ENPP1) Deficiency.
ENPP1 Deficiency is a rare genetic disorder that affects blood vessels, soft tissues, and bones, posing a high cardiovascular mortality risk, especially in infants.
It is a lifelong and progressive condition, leading to low pyrophosphate and phosphate wasting, and significantly impacts blood vessels, soft tissues, and bones
INZ-701 is a pioneering subcutaneous enzyme replacement therapy for ENPP1 Deficiency, targeting patients from infancy through adulthood.
Its Phase 1/2 studies in adults have shown promising safety and efficacy results.
The first Phase 3 study results in children are anticipated in early 2026, with potential regulatory approval by 2027.
Advisors for the transaction include Goldman Sachs for BioMarin and Centerview Partners for Inozyme, with legal counsel provided by Cooley and Goodwin Procter, respectively.
Inozyme CEO and chairman Douglas Treco said: “Today’s announcement gives greater hope to patients who may benefit from INZ-701, a potentially transformative therapy that aims to address the underlying causes and systemic impacts of ENPP1 Deficiency.
“BioMarin has paved the way over the past two and a half decades, successfully launching five first-in-disease enzyme therapies.
“I’d like to thank the team at Inozyme and our partners for their outstanding work and dedication, as we pass this important potentially life-changing therapy to the leading innovator in genetically defined conditions.”
