US biotechnology company BioCryst Pharmaceuticals Inc (Nasdaq:BCRX) announced on Friday that it has completed its acquisition of biopharmaceutical company Astria Therapeutics Inc (Nasdaq:ATXS), initially announced in October 2025.

BioCryst said that this transaction strengthens its position in hereditary angioedema (HAE) and enhances the company's long-term growth trajectory.

Through the acquisition BioCryst adds navenibart, a late-stage, long-acting plasma kallikrein inhibitor currently in Phase 3 clinical development, to its HAE portfolio. The potential to be the first HAE therapy with every-three and every-six month dosing, combined with a high level of attack control, positions navenibart to significantly improve the treatment experience for HAE patients.

BioCryst expects its commercial infrastructure, patient support platform, and HAE expertise will maximise the launch trajectory and peak revenue potential of navenibart with minimal incremental commercial investment.

BioCryst also obtained Astria's early-stage programme for atopic dermatitis, STAR0310, for which the company plans to pursue strategic alternatives.

The acquisition was completed for an implied transaction value of approximately USD700m, net of Astria's cash at closing. BioCryst financed the cash portion of the acquisition with cash on hand and approximately USD396.6m (net of expenses) drawn from a financing facility with funds managed by Blackstone. In addition, at the closing of the transaction, BioCryst issued approximately 37.3 million shares of its common stock to Astria's equity holders.