Global Finance News
18 May 2025, 19:05
BioMarin to Acquire Inozyme for $4.00/Share in All-Cash Deal
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) announced it has entered into a definitive merger agreement to acquire Inozyme Pharma, Inc. for $4.00 per share in cash, valuing the deal at approximately $140 million. The acquisition will occur via a tender offer, followed by a merger, and is expected to close in the coming months.
BioMarin will initiate the tender offer by June 2, 2025, and it will remain open for 20 business days. Closing is subject to customary conditions, including a majority of shares tendered and regulatory approvals.
If successful, Inozyme will become a wholly-owned subsidiary of BioMarin. In connection with the deal, Inozyme’s board unanimously approved the transaction and recommended shareholders tender their shares.
As part of the agreement, certain Inozyme shareholders holding 11.2% of shares have already committed to tendering. A breakup fee of $8.7 million will be payable to BioMarin if Inozyme terminates the deal for a superior offer.
BioMarin sees Inozyme’s lead asset, INZ-701, as a strong strategic fit, with the potential to become the first approved therapy for ENPP1 Deficiency. Phase 3 pediatric trial data is expected soon, and approval could follow in 2027.
This acquisition expands BioMarin’s enzyme therapy portfolio and supports its external innovation strategy.
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) announced it has entered into a definitive merger agreement to acquire Inozyme Pharma, Inc. for $4.00 per share in cash, valuing the deal at approximately $140 million. The acquisition will occur via a tender offer, followed by a merger, and is expected to close in the coming months.
BioMarin will initiate the tender offer by June 2, 2025, and it will remain open for 20 business days. Closing is subject to customary conditions, including a majority of shares tendered and regulatory approvals.
If successful, Inozyme will become a wholly-owned subsidiary of BioMarin. In connection with the deal, Inozyme’s board unanimously approved the transaction and recommended shareholders tender their shares.
As part of the agreement, certain Inozyme shareholders holding 11.2% of shares have already committed to tendering. A breakup fee of $8.7 million will be payable to BioMarin if Inozyme terminates the deal for a superior offer.
BioMarin sees Inozyme’s lead asset, INZ-701, as a strong strategic fit, with the potential to become the first approved therapy for ENPP1 Deficiency. Phase 3 pediatric trial data is expected soon, and approval could follow in 2027.
This acquisition expands BioMarin’s enzyme therapy portfolio and supports its external innovation strategy.