BioMarin to Acquire ZyStor Therapeutics, Inc.

BioMarin Pharmaceutical Inc. BMRN announced today that it has acquired ZyStor Therapeutics, Inc. Under the terms of the agreement, BioMarin acquired ZyStor for $22 million upfront and up to an additional $93 million if certain development, regulatory and commercial milestones are achieved. There are no royalties owed. The FDA has accepted an investigational new drug (IND) application for ZC-701, investigational product has been manufactured and a clinical study is expected to start in Q1 2011.