Chiesi is now in control of KalVista’s 32,110-square-foot headquarters and lab space at 200 Crossing Boulevard in Framingham.
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Italian pharmaceutical firm Chiesi Group has completed its acquisition of Framingham-based KalVista Pharmaceuticals, deepening Chiesi’s rare‑disease portfolio and expanding its U.S. commercial footprint.
The $1.9-billion transaction sees Chiesi assume ownership of KalVista’s EKTERLY, an on‑demand treatment to rapidly address sudden swelling attacks in people with hereditary angioedema. The treatment is expected to contribute to Chiesi’s 2030 strategic revenue target of $6.94 billion, according to the company’s initial announcement of the acquisition in April.
Chiesi first acquired about 78% of the company’s shares in a cash tender offer at $27 per share, then completed a follow-on merger that converted all remaining shares into the same $27 per‑share cash payout, according to a Thursday announcement. KalVista is now a wholly owned Chiesi subsidiary, and its stock has been delisted from Nasdaq.
Chiesi is now in control of KalVista’s 32,110-square-foot headquarters and lab space at 200 Crossing Boulevard in Framingham. KalVista has a lease for that space through 2034, with about $11.2 million in base rent over that term, according to a 2024 filing with the U.S. Securities and Exchange Commission.
Founded in 2011, KalVista concentrated on developing therapies for conditions with limited treatment options. The company named Bilal Arif as its chief operating officer and Linea Aspesi as chief people officer in October.
Chiesi group is a family-owned firm founded in 1935, now operating in more than 30 countries with more than 7,500 employees, according to its website. The firm is headquartered in Parma and has operated as a B Corp since 2019.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
