Chiesi Group, a European pharmaceutical company, has signed through its UK affiliate Chiesi Ltd a definitive agreement with Sunstone Capital to acquire Zymenex, a biopharmaceutical group focused on research and development of biologic therapeutics for the treatment of rare and life threatening genetic diseases.
Terms of the transaction have not been disclosed.
The acquisition of Zymenex includes Lamazym, a phase III recombinant enzyme indicated for use to treat patients suffering from alpha-Mannosidosis, as well as other early stage compounds.
Zymenex R&D capabilities will establish a research and development position for Chiesi in the recombinant biologics market for rare diseases and provide a new channel for continued global growth.
"We are excited to announce this transaction, which marks Chiesi’s entrance into the rare disease space and provides an opportunity to access high-potential markets," says Ugo Di Francesco, chief executive officer of Chiesi. "By expanding our research and development assets and know-how, we believe we can successfully commercialise new and developing drugs to enhance our portfolio, expand our international footprint and strengthen our competitive position. Given the rarity of the condition and the importance of being close to the patients, we will consider setting up a standalone rare disease unit that would cover all major geographies, including the US. We look forward to working with the clinicians and scientists in the field and assisting all the patients affected by this devastating condition. We welcome the Zymenex team to Chiesi, and look forward to improving the quality of life of those suffering from life-threatening rare diseases."
"Zymenex has from the very beginning focused on orphan drugs in the field of Lysosomal Storage Diseases. Patient focus and high quality research in all aspects of the development process are the basis for the company’s success," says Sten Verland, chairman of the board in Zymenex and partner with Sunstone Capital. "We are very pleased to handover the ownership of Zymenex to Chiesi, and we believe that Chiesi through its regulatory expertise and worldwide commercial footprint has the resources needed to fully exploit the potential of Zymenex’ R&D for the benefit of patients with rare, serious, genetic diseases, for which there is no treatment available today."
