Chiesi Group announced the completion of its acquisition of KalVista Pharmaceuticals, bringing the rare disease drug developer into its global organization and expanding the capabilities of its Rare Diseases business unit.
The transaction, originally announced in March 2026, was completed following a tender offer in which Chiesi acquired approximately 77.8% of KalVista’s outstanding shares. On June 11, Chiesi finalized the acquisition through the merger of a wholly owned subsidiary with KalVista. Under the terms of the deal, KalVista shareholders received $27.00 per share in cash, valuing the transaction at approximately $1.64 billion. Following the merger, KalVista became a wholly owned subsidiary of Chiesi and its shares ceased trading on the Nasdaq Global Market.
The acquisition gives Chiesi ownership of EKTERLY (sebetralstat), the first and only oral, on-demand treatment for hereditary angioedema attacks in adults and adolescents aged 12 years and older. The therapy has already received approvals in the United States, the European Union, the United Kingdom, Japan, Australia, Singapore, Switzerland, and other markets. Additional studies are underway to evaluate the treatment in children between the ages of 2 and 11, while regulatory applications remain under review in several regions.
KalVista has focused on developing therapies for rare diseases with significant unmet needs. The company discovered and developed sebetralstat, which targets hereditary angioedema, a rare genetic disorder that causes recurrent and potentially life-threatening swelling attacks.
Chiesi said the addition of KalVista will strengthen its Rare Diseases business unit, which is dedicated to the research, development, and commercialization of treatments for rare and ultra-rare diseases.
Headquartered in Parma, Italy, Chiesi is a research-focused biopharmaceutical group with operations in 31 countries and more than 7,900 employees. The company operates across respiratory health, specialty care, and rare diseases and has maintained certified B Corp status since 2019.
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“Today marks an important milestone for Transcend and people suffering from PTSD. In just a few years, our team advanced TSND-201 into Phase 3 clinical development. By joining Otsuka, this work will move forward with greater resources and reach. We are incredibly proud of what our team has accomplished and look forward to continuing this work together with Otsuka to bring meaningful new treatment options to patients in need.”
Blake Mandell, Co-Founder And CEO, Transcend Therapeutics
“Transcend’s innovative approach reflects Otsuka’s legacy and commitment to addressing the significant unmet needs in mental health, including PTSD. Together, we are well positioned to accelerate the development of new neuropsychiatric therapeutic options and bring meaningful innovation to patients.”
Tarek Rabah, President And CEO, Otsuka North America Pharmaceutical Business
