BioMarin Pharmaceutical Inc. has completed the previously announced agreement to acquire Inozyme Pharma Inc. for $4.00 per share in an all-cash transaction worth approximately $270 million.

The acquisition will strengthen BioMarin’s enzyme therapies portfolio, adding a late-stage enzyme replacement therapy, INZ-701, which is currently being developed for the treatment of ectonucleotide pyrophosphatase/phosphodiesterase 1 (ENPP1) Deficiency, a rare, serious, and progressive genetic condition that affects blood vessels, soft tissues, and bones.

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