Inozyme Pharma said that it has acquired Alexion Pharmaceuticals’ intellectual property and assets focused on ENPP1 gene deficiencies for an undisclosed price.
The acquisition is said to complement Inozyme’s ongoing development of INZ-701, its lead product candidate which is being investigated for the treatment of ENPP1 and ABCC6 deficiencies, which are both rare diseases of abnormal mineralization.
According to Inozyme Pharma, the acquisition includes Alexion Pharmaceuticals’ patent estate, preclinical data, and manufacturing research pertaining to its prior ENPP1 deficiency program.
Rajinder Khunkhun of Alexion Business Development said: “Alexion and Inozyme share a commitment to advancing the treatment of rare diseases.
“Given the development programs underway at Inozyme and their focus on ultra rare diseases of abnormal mineralization, this agreement represents an innovative opportunity to advance the development of therapies for ENPP1 gene deficiencies.”
Inozyme Pharma said that for consideration of the assets, Alexion Pharmaceuticals has been issued shares of its preferred stock, which represent a single-digit stake in it on a fully diluted basis.
Axel Bolte – co-founder, president, and CEO of Inozyme Pharma said: “We are pleased to acquire this intellectual property and scientific data to complement our own research and development programs for ENPP1 deficiency and related genetic diseases.
“The acquisition expands our intellectual property portfolio, and we welcome Alexion as a shareholder of Inozyme. We look forward to building on the work of both companies to develop potential new therapies for patients who have limited choices today.”