KalVista Pharmaceuticals in Framingham is set to be acquired by Italy-based Chiesi Group in a $1.9-billion deal, positioning the rare disease drug developer to scale its drug therapy on a global stage.
The acquisition is centered on KalVista’s focus on oral treatments for rare diseases, including its hereditary angioedema drug, EKTERLY, which received U.S. Food and Drug Administration approval in July. Chiesi expects sale of the drug to meaningfully contribute to its goal of $7 billion in revenue by 2030.
The acquisition is expected to close in the third quarter, the companies announced Wednesday.
Founded in 2011, KalVista has concentrated on developing therapies for conditions with limited treatment options, emphasizing oral medications aimed at improving patient access and convenience. Its lead therapy targets hereditary angioedema, a genetic condition marked by sudden and potentially severe swelling.
Chiesi’s global commercial footprint is expected to support manufacturing, distribution, and market access efforts beyond the U.S., and KalVista will give Chiesi a stronger presence in the U.S.
The acquisition comes after KalVista in October named Bilal Arif as its chief operating officer and Linea Aspesi as chief people officer.
Brad Kane is editor of the Worcester Business Journal.
