Chiesi Group is buying biopharmaceutical group Zymenex Holding A/S for an undisclosed amount.
Hilleroed, Denmark-based Zymenex is focused on research and development of treatments for rare genetic diseases. The company makes Lamazym, used to treat patients with alpha-Mannosidosis, a disorder that causes problems in many organs.
“Given the rarity of the condition and the importance of being close to the patients, we will consider setting up a standalone rare disease unit that would cover all major geographies, including the U.S.,” says Ugo Di Francesco, Chiesi’s CEO.
The deal gives Chiesi a place in the market for rare disease medications. The buyer, headquartered in Parma, Italy, develops medications.
Zymenex was sold by Copenhagen private equity firm Sunstone Capital. The firm, which also has offices in Menlo Park, Calif., and Båstad, Sweden, invests in technology and life sciences companies. Sunstone’s investments have included Adenium Biotech, Acarix A/S and Orphazyme Aps.
Back Bay Life Science Advisors was Zymenex’s financial adviser for the deal.
The deal comes at a busy time for health care M&A. Also on Aug. 26, Amgen Inc. agreed to buy Onyx Pharmaceuticals Inc. for $10.4 billion. Quintiles Transactional Holdings Inc. (NYSE: Q), in August, agreed to buy Novella Clinical, a clinical research organization. And Catamaran Corp. (Nasdaq: CTRX) bought pharmacy benefit manager Restat LLC, for $409.5 million.