BioMarin Expands Enzyme Experience With $270M Inozyme Purchase

BioMarin is buying uncommon illness specialist Inozyme Pharma for $270 million to construct out its portfolio of enzyme therapies, the biotech introduced on Friday.

BioMarin pays $4 for every excellent share of Inozyme. The businesses anticipate to finish the transaction within the third quarter, pending customary closing situations reminiscent of anti-trust clearances and the tender of at the least a majority of Inozyme shares. The Board of Inozyme has unanimously advisable that stockholders tender their shares.

The centerpiece of Friday’s deal is Inozyme’s INZ-701, an investigational enzyme alternative remedy presently in late-stage growth for ectonucleotide pyrophosphatase/phosphodiesterase 1 (ENPP1) deficiency. Brought on by mutations to the ENPP1 gene, ENPP1 deficiency is a uncommon and progressive illness that may have an effect on a wide range of organs, presenting otherwise from affected person to affected person.

Widespread signs embrace early-onset osteoporosis, a heightened danger of fractures and calcification of the tendons. Sufferers with ENPP1 deficiency are additionally extra prone to cardiovascular mortality, extreme rickets and softening of the bones. There are presently no authorized remedies for the situation.

Delivered subcutaneously, INZ-701 combines the lively website of the ENPP1 enzyme with a particular fragment of a human antibody, in line with Inozyme’s web site. This construction permits INZ-701 to be distributed all through the physique, basically changing the poor ENPP1 enzyme and finishing up its operate. Preclinical information have supported this mechanism of motion, displaying that INZ-071 may stop irregular mineralization.

Apart from ENPP1 deficiency, Inozyme is additionally testing INZ-701 for ABCC6 deficiency and calcific uremic arteriopathy, each uncommon illnesses.

The acquisition comes after some rocky occasions for BioMarin. Final 12 months the corporate reconfigured its c-suite, laid off 225 staff and axed 4 molecules as a part of a broader reorganization plan.

“As BioMarin continues our transformation and delivers on our company technique, we’ll proceed to guage exterior innovation alongside inner innovation,” mentioned BioMarin’s president and CEO Alexander Hardy in an announcement saying the deal. “We’re in a robust monetary place to herald extra property as we speed up the event of medicines for sufferers with vital unmet want.”

The Inozyme acquisition additionally follows BioMarin’s first-quarter earnings name, the place Hardy mentioned that the biotech would conduct “at the least one enterprise growth deal this 12 months.” BioMarin made $745 million in Q1, which represents a 15% year-on-year improve and was forward of the analyst consensus of $738.1 million.

BioMarin’s enzyme remedy portfolio accounted for a lot of its topline, bringing in $484 million within the quarter, an 8% bounce from the identical interval final 12 months. Voxzogo, its intently watched C-type natriuretic peptide analog indicated for achondroplasia with open epiphyses, surged 40% year-on-year to herald $214 million.

With a robust begin to 2025, BioMarin reaffirmed its full-year outlook. The corporate expects whole revenues to hit $3.1 billion, with Voxzogo contributing at the least $900 million.

Nonetheless, analysts at William Blair stay cautious about BioMarin. In a Might 2 word to buyers, the analysts flagged “uncertainty” relating to the biotech’s “present income drivers” and whether or not they have “the potential to proceed delivering vital worth creation within the close to time period.”