Investing.com -- Shares of BioMarin Pharmaceutical Inc (NASDAQ: BMRN ) saw an uptick of 1.7% today as the market responded to the company’s announcement of acquiring Inozyme Pharma Inc (NASDAQ: INZY ), which soared 177.8%. The acquisition, valued at approximately $270 million, aims to strengthen BioMarin’s enzyme therapy portfolio by adding INZ-701, a Phase 3 enzyme replacement therapy for the treatment of ENPP1 Deficiency.

The transaction, expected to close in the third quarter of 2025, is seen as a strategic move to expand BioMarin’s presence in enzyme replacement therapies. ENPP1 Deficiency is a rare and serious genetic condition that affects blood vessels, soft tissues, and bones, with increased cardiovascular mortality risk. The first Phase 3 pivotal study data for INZ-701 in children is anticipated in early 2026, with potential market launch in 2027.

BioMarin’s CEO, Alexander Hardy, highlighted the acquisition’s alignment with the company’s long-standing commitment to developing therapies for serious genetic conditions. "This acquisition brings to BioMarin an important medicine that has the potential to be the first treatment for children and adults with ENPP1 Deficiency, improving care for people living with this serious condition," said Hardy.

Douglas A. Treco, Ph.D., CEO and Chairman of Inozyme, expressed optimism for patients who may benefit from INZ-701, describing it as a potentially transformative therapy. He commended the efforts of the Inozyme team and partners as they transition this potentially life-changing therapy to BioMarin, a company recognized for launching first-in-disease enzyme therapies.

The acquisition is subject to regulatory approval, a successful tender offer, and other customary closing conditions. Investors will be watching closely as BioMarin integrates INZ-701 into its portfolio and progresses towards potential regulatory approval and commercialization.

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