Form 4: Inozyme Pharma Director Disposes Shares and Options Following BioMarin Merger Completion

Inozyme Pharma Director Axel Bolte disposed of common stock and stock options as part of the company's acquisition by BioMarin Pharmaceutical Inc. for $4.00 per share, effective July 1, 2025.

Summary

• Axel Bolte, a Director of Inozyme Pharma, Inc., reported the disposition of 423,926 shares of common stock and 393,363 stock options (234,176 at $2.02 exercise price and 159,187 at $2.77 exercise price).
• The disposition occurred on July 1, 2025, as a direct 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, making Inozyme Pharma a wholly-owned subsidiary of BioMarin Pharmaceutical Inc.
• Each share of common stock held by the reporting person was tendered for the $4.00 per share merger consideration.
• Outstanding stock options with an exercise price less than the $4.00 merger consideration were automatically accelerated, fully vested, cancelled, and converted into a cash payment equal to the difference between the merger consideration and the option's exercise price.

Sentiment

Score: 7

Explanation: The sentiment is positive as the merger successfully completed, providing a clear exit and liquidity for shareholders and option holders at the agreed-upon price, resolving prior uncertainties related to the acquisition process.

Positives

• The completion of the merger provides liquidity to Inozyme Pharma shareholders at the agreed-upon price of $4.00 per share.
• Stock option holders with in-the-money options received a cash payout, accelerating their vesting and providing immediate value.

Negatives

• Inozyme Pharma, Inc. ceases to be an independent publicly traded entity, becoming a wholly-owned subsidiary of BioMarin Pharmaceutical Inc.

Risks

• No new or ongoing risks are detailed in this Form 4, as it primarily reports a completed transaction.

Future Outlook

Inozyme Pharma, Inc. is now a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., and as such, no longer has an independent public future outlook.

Management Comments

• No direct quotes from management are provided in this filing, which primarily reports a transaction by a director.

Industry Context

This transaction represents a typical acquisition in the biotechnology and pharmaceutical industry, where larger companies like BioMarin acquire smaller, often clinical-stage, companies like Inozyme Pharma to expand their pipeline or intellectual property portfolio. Such mergers provide an exit strategy for investors in the acquired company and consolidate assets within the acquiring entity.

Comparison to Industry Standards

• This document reports a specific insider transaction resulting from a completed merger and does not contain operational or financial performance metrics that can be directly compared to industry standards or specific comparable companies/projects. The merger consideration of $4.00 per share would typically be evaluated against pre-merger market prices and analyst valuations, but this context is not provided within the filing.

Stakeholder Impact

• Shareholders of Inozyme Pharma received cash for their shares, providing a definitive return on their investment.
• Employees of Inozyme Pharma are now part of the BioMarin Pharmaceutical Inc. organizational structure.

Next Steps

• Inozyme Pharma will continue operations as a wholly-owned subsidiary of BioMarin Pharmaceutical Inc.

Key Dates

Keywords

Inozyme Pharma, INZY, BioMarin Pharmaceutical, Merger, Acquisition, Form 4, Beneficial Ownership, Stock Options, Common Stock, Tender Offer, Axel Bolte