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NOVATO, Calif. BioMarin Pharmaceutical has acquired privately owned biotechnology company ZyStor Therapeutics for $22 million, BioMarin said.
The drug maker said it also would pay ZyStor up to $93 million in milestone payments. The main gem in the deal was ZC-701, ZyStor’s investigative treatment for the lysosomal storage disorder Pompe disease and a potential competitor to Genzyme Corp.’s Pompe disease treatment Myozyme (alglucosidase alfa). A phase 1/2 clinical study of ZC-701 in late-onset Pompe disease is expected to begin in first quarter 2011.
“The acquisition of ZyStor gives us the opportunity to introduce a superior product to fulfill an unmet medical need and is a perfect fit in our core business,” BioMarin CEO Jean-Jacques Bienaime stated. “It not only provides us with a promising product candidate for Pompe disease, but also an exciting new platform technology.”