Form 4: Inozyme Pharma Director Disposes Over 4.49 Million Shares Following BioMarin Merger Completion

Inozyme Pharma Director Robert Hopfner disposed of over 4.49 million shares of common stock at $4.00 per share following the completion of the merger with BioMarin Pharmaceutical Inc.

Summary

• Robert Lorne Hopfner, a Director of Inozyme Pharma, Inc. (INZY), reported the disposition of 4,494,851 shares of common stock.
• The disposition occurred on July 1, 2025, as a result of the Agreement and Plan of Merger dated May 16, 2025, between Inozyme Pharma, BioMarin Pharmaceutical Inc. ('Parent'), and Incline Merger Sub, Inc. ('Merger Sub').
• Merger Sub completed a cash tender offer to acquire all outstanding shares of Inozyme Pharma common stock for $4.00 per share.
• Effective July 1, 2025, Merger Sub merged with and into Inozyme Pharma, with Inozyme Pharma continuing as the surviving corporation and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc.
• The shares were held indirectly by Mr. Hopfner through Pivotal bioVenture Partners Fund I, L.P. (2,923,110 shares) and Pivotal bioVenture Partners Fund II, L.P. (1,571,741 shares).

Sentiment

Score: 6

Explanation: The filing reports the expected disposition of shares due to a completed merger, indicating a successful exit for the reporting entity at the pre-agreed price. This is a neutral to slightly positive event for the reporting person, as it represents the successful monetization of an investment.

Positives

• The merger with BioMarin Pharmaceutical Inc. was successfully completed, providing liquidity to shareholders at the agreed-upon price.
• The reporting person, through affiliated funds, successfully monetized their investment in Inozyme Pharma at the tender offer price of $4.00 per share.

Negatives

• The reporting person no longer holds beneficial ownership in Inozyme Pharma, as it is now a wholly-owned subsidiary and no longer publicly traded.

Future Outlook

NA

Industry Context

The completion of this merger signifies a consolidation event within the biopharmaceutical industry, where a larger pharmaceutical company, BioMarin, has acquired a smaller entity, Inozyme Pharma, integrating its assets and operations into a broader portfolio. This is a common strategic move for larger players seeking to expand their pipeline or market presence.

Related Party Transactions

• The shares disposed were held indirectly by Robert Hopfner through Pivotal bioVenture Partners Fund I, L.P. and Pivotal bioVenture Partners Fund II, L.P. The general partner of these funds is Pivotal bioVenture Partners Fund I G.P., L.P., whose general partner is Pivotal bioVenture Partners Fund I U.G.P., Ltd ('Ultimate General Partner').
• Pivotal Partners is wholly owned by Pivotal Life Sciences Holdings Limited, which is wholly owned by Nan Fung Life Sciences Holdings Limited, which in turn is wholly owned by NF Investment Holdings Limited, and ultimately by Nan Fung Group Holdings Limited ('NFGHL').
• The Executive Committee of NFGHL, whose members include Mr. Kam Chung Leung, Mr. Frank Kai Shui Seto, Mr. Vincent Sai Sing Cheung, Mr. Pui Kuen Cheung, Ms. Vanessa Tih Lin Cheung, Mr. Meng Gao, and Mr. Chun Wai Nelson Tang, makes investment decisions regarding the Issuer's securities held by Pivotal.
• Robert Hopfner, a managing partner of the Ultimate General Partner, is also a member of the board of directors of Inozyme Pharma. Such persons and entities disclaim beneficial ownership over these securities except to the extent of any pecuniary interest therein.

Stakeholder Impact

• Shareholders of Inozyme Pharma received $4.00 per share in cash for their common stock, providing a clear exit and liquidity for their investment.
• Inozyme Pharma employees and operations are now part of BioMarin Pharmaceutical Inc., potentially leading to integration and strategic alignment changes within the larger organization.

Key Dates

Keywords

Inozyme Pharma, INZY, BioMarin Pharmaceutical, Merger, Tender Offer, Share Disposition, Insider Transaction, Form 4, Robert Hopfner, Pivotal bioVenture Partners