WASHINGTON (dpa-AFX) - BioMarin Pharmaceutical Inc. (BMRN) and Inozyme Pharma, Inc. (INZY) Friday said that BioMarin has agreed to acquire Inozyme for about $270 million or $4 per share, in cash.
The deal is expected to close in the third quarter of 2025.
The acquisition will add a Phase 3 enzyme replacement therapy, INZ-701 to BioMarin's portfolio. INZ-701 is currently being evaluated for the treatment of ectonucleotide pyrophosphatase/phosphodiesterase 1 (ENPP1) Deficiency, a rare, serious and progressive genetic condition that affects blood vessels, soft tissues and bones. Data from the first Phase 3 pivotal study of INZ-701 in children is expected in early 2026.
'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,' said Alexander Hardy, President and Chief Executive Officer of BioMarin.
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