Latest news with #InozymePharma
Associated Press
27-05-2025
- Business
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates INZY, TXNM, SVT, PTIX on Behalf of Shareholders
NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Inozyme Pharma, Inc. (NASDAQ: INZY)'s sale to BioMarin Pharmaceutical Inc. for $4.00 per share. If you are an Inozyme shareholder, click here to learn more about your rights and options . TXNM Energy, Inc. (NYSE: TXNM)'s sale to Blackstone for $61.25 per share in cash. If you are a TXNM shareholder, click here to learn more about your legal rights and options . Servotronics, Inc. (NYSE: SVT)'s sale to TransDigm Group Incorporated for $38.50 per share in cash. If you are a Servotronics shareholder, click here to learn more about your rights and options . Protagenic Therapeutics, Inc. (NASDAQ: PTIX)'s merger with Phytanix Bio Inc. Upon completion of the proposed transaction, Protagenic shareholders are expected to own approximately 35% of the combined company. If you are a Protagenic shareholder, click here to learn more about your rights and options . Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] . Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. One World Trade Center 85th Floor New York, NY 10007 (212) 763-0060 [email protected] [email protected]
Associated Press
19-05-2025
- Business
- Associated Press
BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Inozyme Pharma, Inc. (Nasdaq – INZY), TXNM Energy, Inc. (NYSE - TXNM), Servotronics, Inc. (NYSE American - SVT), Protagenic Therapeutics, Inc. (Nasdaq – PTIX)
BALA CYNWYD, Pa., May 19, 2025 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847. There is no cost or financial obligation to you. TXNM Energy, Inc. (NYSE - TXNM) Under the terms of the agreement, TXNM Energy will be acquired by Blackstone Infrastructure for $61.25 per share in cash, reflecting a total enterprise value of $11.5 billion. The investigation concerns whether the TXNM Energy Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the consideration provides fair value to the Company's shareholders. Additional information can be found at Inozyme Pharma, Inc. (Nasdaq – INZY) Under the terms of the Merger Agreement, Inozyme Pharma will be acquired by BioMarin Pharmaceutical Inc. ('BioMarin') (Nasdaq – BMRN) for $4.00 per Inozyme Pharma share in an all-cash transaction for a total consideration of approximately $270 million. The investigation concerns whether the Inozyme Pharma Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal provides fair value to the Company's shareholders. Additional information can be found at Servotronics, Inc. (NYSE American - SVT) Under the terms of the agreement, Servotronics will be acquired by TransDigm for $38.50 per share in cash, in a transaction valued at approximately $110 million. The investigation concerns whether the Servotronics Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the consideration provides fair value to the Company's shareholders. Additional information can be found at Protagenic Therapeutics, Inc. (Nasdaq – PTIX) Under the terms of the Merger Agreement, Protagenic Therapeutics will be acquired by Phytanix Bio Inc. ('Phytanix') Ownership of the combined company will be approximately 35% for Protagenic Therapeutics stockholders and approximately 65% for Phytanix stockholders. The investigation concerns whether the Protagenic Therapeutics Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company's shareholders in the combined company. Additional information can be found at Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
Yahoo
19-05-2025
- Business
- Yahoo
BioMarin Expands Rare Disease Portfolio with $270M Inozyme Acquisition
On May 16, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) announced a $270 million acquisition of Inozyme Pharma, aiming to expand its rare disease research. The all-cash deal, backed by both companies' boards, is expected to close between July and September, giving BioMarin control of INZ-701, an enzyme replacement therapy targeting ENPP1 and ABCC6 deficiencies, life-threatening disorders caused by mineral buildup in soft tissues. A close-up of a hand holding a vial of biopharmaceutical drugs ready to be administered. With no FDA-approved treatments, INZ-701 aims to restore inorganic pyrophosphate levels, preventing tissue calcification. Late-stage trial results for ENPP1 deficiency are expected next year, with potential FDA approval by 2027. Analysts view the deal as a strategic expansion, complementing BioMarin Pharmaceutical Inc.'s (NASDAQ:BMRN) existing enzyme replacement therapies, including Vimizim, Naglazyme, and Palynziq. Despite a rare patient pool of around 10,000 globally, experts see commercial potential, expecting the acquisition to strengthen BioMarin's pipeline development. While some analysts praise its strong strategic fit, others believe it won't significantly impact BioMarin's overall market position. While we acknowledge the potential of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BMRN and that has 100x upside potential, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-05-2025
- Business
- Yahoo
BioMarin Expands Rare Disease Portfolio with $270M Inozyme Acquisition
On May 16, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) announced a $270 million acquisition of Inozyme Pharma, aiming to expand its rare disease research. The all-cash deal, backed by both companies' boards, is expected to close between July and September, giving BioMarin control of INZ-701, an enzyme replacement therapy targeting ENPP1 and ABCC6 deficiencies, life-threatening disorders caused by mineral buildup in soft tissues. A close-up of a hand holding a vial of biopharmaceutical drugs ready to be administered. With no FDA-approved treatments, INZ-701 aims to restore inorganic pyrophosphate levels, preventing tissue calcification. Late-stage trial results for ENPP1 deficiency are expected next year, with potential FDA approval by 2027. Analysts view the deal as a strategic expansion, complementing BioMarin Pharmaceutical Inc.'s (NASDAQ:BMRN) existing enzyme replacement therapies, including Vimizim, Naglazyme, and Palynziq. Despite a rare patient pool of around 10,000 globally, experts see commercial potential, expecting the acquisition to strengthen BioMarin's pipeline development. While some analysts praise its strong strategic fit, others believe it won't significantly impact BioMarin's overall market position. While we acknowledge the potential of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BMRN and that has 100x upside potential, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Sign in to access your portfolio
Yahoo
17-05-2025
- Business
- Yahoo
BioMarin to buy rare disease drugmaker Inozyme for $270M
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. BioMarin Pharmaceutical has agreed to spend $270 million to take control of a Boston-based drug company with complementary expertise in rare disease research. The all-cash deal, announced Friday, should close sometime between July and the end of September, having already received unanimous backing from the boards of both BioMarin and its target Inozyme Pharma. Once complete, the acquisition will hand BioMarin an experimental therapy that's currently being tested against uncommon disorders with names so alien they look as though a house cat walked across a laptop keyboard. Those disorders, known as ENPP1 deficiency and ABCC6 deficiency, can each be life-threatening. They arise when the body doesn't create enough of an enzyme that turns out 'inorganic pyrophosphate,' a molecule that keeps minerals like calcium from accumulating in soft tissues. Without that molecule, the resulting mineral buildup can cause bone weakness and pain, or artery blockages that lead to strokes, tissue death or multiorgan failure. Research has indicated that, in newborns and infants with the most severe forms of these deficiencies, the mortality rate is more than 50%. To date, the Food and Drug Administration has yet to approve any medicines for the diseases Inozyme is targeting. Inozyme — and now BioMarin — are hoping to change that with an enzyme replacement therapy code-named INZ-701. As the name suggests, INZ-701 is designed to do the job of that missing protein and spur the production of inorganic pyrophosphate. Results from a late-stage study of the therapy in children with ENPP1 deficiency are expected next year, meaning FDA approval could come as early as 2027. A Phase 2 study of patients with ABCC6 deficiency completed last summer, as did a Phase 1 experiment focused on a different blood vessel-calcifying disease that often accompanies kidney failure. To some analysts, the deal represents a bit of a shot in the arm for BioMarin, which last year trimmed its workforce, reduced some spending and culled several drug projects. Joseph Schwartz, of Leerink Partners, wrote in a note to clients that his team had been patiently waiting for BioMarin to do some business development, and is now 'pleased' to see the Inozyme deal come through. ENPP1 deficiency is very rare, with Inozyme estimating a global patient population of around 10,000. Yet Schwartz's team believes this treatment area could grow into a 'valuable' commercial opportunity for BioMarin. They 'think this is a step in the right direction and hope that this is just the beginning of [the company's] pipeline build out.' Analysts also highlighted how Inozyme can be easily folded into BioMarin's business, which already has other enzyme replacement therapies on the market like Vimizim, Naglazyme and Palynziq. The deal "fits like a glove," according to Schwartz, while Paul Matteis of Stifel described it as a "very strong strategic fit" in his own client note. BioMarin "has the commercial infrastructure and expertise to maximize the value of this late-stage asset," Matteis wrote. Others, though, weren't as bullish. While the deal "makes total sense," it's "unlikely to move the needle" for BioMarin as a whole, wrote RBC Capital Markets' Luca Issi. The company's share price was up a little more than 1% late Friday morning, to trade at almost $60. 'As BioMarin continues our transformation and delivers on our corporate strategy, we will continue to evaluate external innovation alongside internal innovation,' CEO Alexander Hardy said in a statement. 'We are in a strong financial position to bring in additional assets as we accelerate the development of medicines for patients with significant unmet need." Per deal terms, BioMarin will purchase all outstanding shares of Inozyme for $4 apiece. That's a roughly 180% premium from the $1.42 Inozyme shares were trading at on May 15. BioMarin had close to $1.3 billion worth of cash, cash equivalents and short-term investments by the end of March. The company also last summer laid out plans to bring in $4 billion in annual revenue by 2027. Recommended Reading BioMarin, having retrenched, outlines plans for growth
