Amryt Pharma completes Chiasma acquisition


Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT, FRA:3N9) has completed its acquisition of US group Chiasma Inc (NASDAQ:CHMA) with Raj Kannan and Roni Mamluk joining the board as non-executive directors.

Joe Wiley, Amryt’s chief executive, said: “This transaction further solidifies our position as a global leader in treating rare and orphan conditions.

“The combined business will have three approved commercial products and an exciting pipeline of development assets.

“Our lead development candidate, Oleogel-S10, is currently progressing through the regulatory process in the US and EU and, if approved, will bring our portfolio of commercial products to four.

“We see significant revenue growth opportunities for Mycapssa in acromegaly and are also very excited to further develop the potential for Mycapssa in patients with carcinoid symptoms stemming from neuroendocrine tumors (“NET”) where we believe the commercial opportunity is significant.

“With the addition of NET, our combined pipeline will have four product candidates in late clinical stages as well as our exciting pre-clinical gene therapy asset, AP103 in dystrophic Epidermolysis Bullosa”

Shares in Amryt were down 1% at 150.5p.


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