BioCryst building HAE franchise via Astria takeout, gaining long-acting therapy: Deals Report

With its planned acquisition of Astria, BioCryst would obtain a late-stage therapy for HAE to complement its marketed drug in the same class, as well as an asset that could soon set up another deal.

BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) said Tuesday it will acquire Astria Therapeutics Inc. (NASDAQ:ATXS) for cash and stock at an implied value of $13 per share, representing a total equity value of about $920 million. BioCryst will fund the deal with cash on hand as well as a debt facility from Blackstone Life Sciences, which could supply the biotech with up to $550 million...