BioMarin acquires Inozyme for $4.00/share (~$270M cash); adds late-stage ENPP1 therapy

BIOMARIN PHARMACEUTICAL INC

All-cash tender offer at $4.00 per share; total equity value ~$270M; expected to close Q3 2025.
INOZYME's lead asset INZ-701 is a Phase 3 enzyme replacement for ENPP1 Deficiency; first pivotal data in children expected early 2026.
Inozyme Board unanimously recommends; stockholders representing ~11.2% of shares have entered support agreements.
BioMarin reaffirms FY2025 guidance and plan to achieve 40% Non-GAAP Operating Margin in 2026.
Transaction not subject to financing condition; Goldman Sachs advised BioMarin, Centerview advised Inozyme.

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