Inozyme Pharma rises over 175% on $270 million buyout deal with BioMarin

BioMarin Pharmaceutical

16/05/2025 13:50

** Shares of rare disease therapy developer Inozyme Pharma INZY.O rise 179% to $3.96 premarket

** BioMarin Pharma BMRN.O says that it has entered into an agreement to buy Inozyme Pharma for $4 per share in an all-cash transaction for a total consideration of around $270 million

** The deal is expected to close in Q3 2025

** The deal will strengthen BioMarin's enzyme therapies portfolio, adding a late-stage enzyme replacement therapy, INZ-701, which is currently being assessed to treat a rare genetic disorder affecting blood vessels, soft tissues and bones, BMRN says

** As of last close, INZY down 48.7% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))