Ambrose Healthcare acquires AM-Pharma for up to €161 million

Ambrose Healthcare, a British rare‑disease specialist, announced it has completed the acquisition of Dutch biotech AM‑Pharma. The deal values the company at up to 161 million euros (about $181 million) and includes an upfront cash payment plus future milestones.

AM‑Pharma was previously a target of Pfizer, which invested in 2015 but later withdrew after phase‑2 data on its sepsis‑associated kidney injury candidate ilofotase alfa were disappointing. The company subsequently raised €163 million from investors to fund a phase‑3 trial that ultimately failed.

Following the setback, AM‑Pharma reduced its workforce and shifted focus to other indications, notably hypophosphatasia (HPP), a rare inherited bone‑mineralization disorder. Early phase 1/2 data in 2023 showed that ilofotase alfa could improve disease‑related biomarkers.

Ambrose’s purchase ties future payments to the commercialisation of ilofotase alfa in HPP, positioning the drug as a potential enzyme‑replacement therapy for patients with the condition.