BioMarin to Acquire Inozyme for $270 Million in an All-Cash Tender Offer

BioMarin Pharmaceutical Inc. (BMRN) entered a merger agreement on May 16, 2025, to acquire Inozyme Pharma, Inc. (INZY) through a cash tender offer valued at $270 million.

Deal Structure:

Under the terms of the agreement, BioMarin will commence a cash tender offer to acquire all of the outstanding shares of Inozyme common stock at $4 per share, representing a premium of 181.69% from the stock’s last close.

Company Profile:

Inozyme is a Boston-based clinical-stage biopharmaceutical company developing therapies targeting the PPi-Adenosine Pathway to treat rare diseases involving abnormal mineralization, including ENPP1 and ABCC6 deficiencies and calciphylaxis. These conditions disrupt bone and vascular health, leading to severe complications such as soft tissue calcification, rickets, and high cardiovascular risk.

BioMarin is a San Rafael-based biotechnology company focused on developing and commercializing innovative therapies for serious and life-threatening rare genetic diseases. With a portfolio of eight approved treatments and a robust pipeline, BioMarin leverages genetic science to address unmet medical needs worldwide.

Deal Details and Timeline:

The deal, expected to close in the third quarter of 2025, will enhance BioMarin’s enzyme therapy portfolio by adding INZ-701, a late-stage enzyme replacement therapy for ENPP1 Deficiency, a rare, progressive genetic disorder affecting blood vessels, soft tissue, and bones. The condition carries a high cardiovascular mortality risk and causes severe rickets and osteomalacia. Phase 3 data in children is expected in early 2026, with potential approval in 2027.

Inozyme was advised by Centerview Partners as financial advisor and Goodwin Procter as legal counsel. BioMarin received financial advice from Goldman Sachs and legal counsel from Cooley.

Deal Metrics:

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Deal Metrics for the acquisition of Inozyme Pharma, Inc. (INZY) by BioMarin Pharmaceutical Inc. (BMRN)

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Editor’s Note: Baranjot Kaur contributed to this article