BioCryst Acquires Astria Therapeutics for $700M, Bolstering Hereditary Angioedema Portfolio

BioCryst Pharmaceuticals has announced a $700 million acquisition of Astria Therapeutics, significantly expanding its presence in the hereditary angioedema (HAE) market. The deal, expected to close in the first quarter of 2026, will add a promising late-stage injectable drug to BioCryst's existing HAE treatment lineup.

Navenibart: A Potential Game-Changer in HAE Treatment

The centerpiece of the acquisition is navenibart, Astria's investigational long-acting injectable monoclonal antibody designed to prevent HAE attacks. Currently in Phase III development, navenibart has shown promising results in earlier trials, demonstrating a 90% to 95% reduction in monthly HAE attack rates with dosing just two to four times per year.

BioCryst's Chief Commercial Officer, Charlie Gayer, highlighted the potential impact of navenibart: "Low dosing frequency is the main remaining unmet need identified by HAE patients and their physicians. They see every-three-month dosing as the tipping point that would motivate a switch. That is the potential of navenibart."

The drug's extended dosing interval could offer significant advantages over existing treatments, including Takeda's Takhzyro, which requires administration every two to four weeks. Phase III data for navenibart is expected in early 2027, with BioCryst aiming to be the first to market with a three-month dosing option for HAE prophylaxis.

Strategic Fit and Market Implications

The acquisition of Astria aligns with BioCryst's focus on rare diseases and complements its existing HAE drug, Orladeyo. Approved in 2020, Orladeyo is an oral daily medication for HAE prophylaxis that generated $438 million in revenue last year. BioCryst projects Orladeyo sales to reach up to $600 million by 2025.

With the addition of navenibart, BioCryst anticipates its HAE portfolio could generate $1.8 billion in revenue by 2033. The company plans to leverage its existing commercial infrastructure for Orladeyo to support the potential launch of navenibart, minimizing additional investment needs.

Jon Stonehouse, CEO of BioCryst, emphasized the strategic importance of the deal: "This acquisition deepens our expertise in hereditary angioedema and positions us to offer a comprehensive range of treatment options for HAE patients."

The HAE market has become increasingly competitive, with recent FDA approvals for CSL's Andembry and Ionis' Dawnzera. However, BioCryst believes navenibart's potential for less frequent dosing will give it a significant advantage in the evolving treatment landscape.