M&A · Healthcare · Pharmaceutical Preparations
BioMarin Pharmaceutical Inc to acquire Inozyme Pharma, Inc.
Announced May 16, 2025 · Closed Jul 1, 2025
Deal value$270MEV $253M
Premium196.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$4.00 per share
Transaction
- Acquirer
- BioMarin Pharmaceutical Inc (BMRN)
- Target
- Inozyme Pharma, Inc. (INZY)
- Buyer type
- Strategic
- Offer price per share
- $4.00
- Enterprise value
- $253M
- Status
- Closed Jul 1, 2025
Deal protections
- Break fee (target pays)
- $8.7M · 3.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Centerview
- Centerview fee
- $10.4M
Sector context · Healthcare
- Comparable deals
- 91 in the prior 24 months
- Premium
- 196.0% vs. 66.5% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.2% vs. 3.5% sector median
Timeline
- AnnouncedMay 16, 2025
- Tender offerJun 2, 2025
- ClosedJul 1, 2025
Valuation · fairness opinions
Discounted cash flow$1.95$2.30
Analyst price targets$7.00$23.00
Premiums paid$2.45$4.00
Offer $4.00
Implied value per Inozyme Pharma, Inc. share by analysis, from Centerview · DCF discount rate 18.5%–20.5%.