BioCryst Snaps Up Fellow Angioedema Player Astria for $700M

BioCryst Pharmaceuticals has signed a definitive agreement to acquire Astria Therapeutics for approximately $700 million, funded through a mix of cash and stock, valuing Astria at $13 per share1 2 3 4.

The boards of both companies unanimously approved the transaction, which is expected to close in the first quarter of 2026, pending customary conditions2 3 4.

Following the acquisition, Astria CEO Jill Milne will join the BioCryst Board of Directors2 3 4.

The acquisition brings Astria’s late-stage candidate, navenibart, an injectable monoclonal antibody inhibitor targeting plasma kallikrein for the prophylaxis of hereditary angioedema (HAE)—currently in phase III development—into BioCryst's portfolio2 3 4.

Navenibart offers the potential for infrequent dosing (every three to six months) and aims to improve patient experience compared to current HAE treatments2 3 4.

This move strengthens BioCryst’s HAE business, which already features its market-leading product Orladeyo, and is expected to drive double-digit revenue growth, profitability, and continued positive cash flow for the combined company3 4.

Sources:

1. https://www.biospace.com/deals/biocryst-snaps-up-fellow-angiodema-player-astria-for-700m

2. https://www.pharmaceutical-technology.com/news/biocryst-buys-astria/

3. https://www.quiverquant.com/news/BioCryst+Pharmaceuticals+to+Acquire+Astria+Therapeutics,+Expanding+HAE+Portfolio+with+Navenibart+in+$920+Million+Deal

4. https://www.pharmanow.live/latest-news/biocryst-acquires-astria

Sources:

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