Chiesi Completes KalVista Acquisition, Expands Rare Disease Portfolio

Chiesi Group has completed its acquisition of KalVista Pharmaceuticals, marking a significant expansion of its rare diseases business and adding a recently approved hereditary angioedema treatment to its growing portfolio.

The Italian biopharmaceutical company announced that KalVista is now officially part of Chiesi Group and will be integrated into its Rare Diseases business unit, which focuses on the research, development, and commercialization of therapies for rare and ultra-rare disorders. The acquisition strengthens Chiesi’s position in the rare disease market and provides the company with a commercial-stage product that addresses a significant unmet need for patients living with hereditary angioedema (HAE).

At the center of the transaction is EKTERLY® (sebetralstat), the first and only approved oral, on-demand treatment for hereditary angioedema attacks in adults and adolescents aged 12 years and older. The medicine has already secured approvals in several major markets, including the United States, the European Union, the United Kingdom, Japan, and other territories.

Hereditary angioedema is a rare genetic disorder characterized by recurrent and potentially life-threatening episodes of severe swelling that can affect various parts of the body, including the extremities, gastrointestinal tract, and airways. Patients often require rapid treatment during acute attacks, making the availability of an oral therapy a potentially important advancement in disease management.

Beyond its currently approved indications, EKTERLY continues to be evaluated in additional patient populations. Ongoing clinical studies are investigating its use in children between the ages of 2 and 11 years, while regulatory applications remain under review in several key international markets. Chiesi is expected to leverage its global commercial infrastructure to further expand the medicine’s reach and support future development efforts.

The acquisition was completed through a tender offer followed by a merger transaction. On June 11, 2026, Chiesi successfully concluded its tender offer for all outstanding shares of KalVista common stock at a price of $27.00 per share in cash. According to the company, approximately 77.8% of KalVista’s outstanding shares were validly tendered and accepted for payment by the expiration of the offer period.

Following the successful tender offer, Chiesi completed the acquisition through the merger of a wholly owned subsidiary into KalVista. As part of the transaction, all remaining outstanding shares of KalVista common stock were canceled and converted into the right to receive the same cash consideration of $27.00 per share.

With the merger finalized, KalVista has become a wholly owned subsidiary of Chiesi Group, and its shares have ceased trading on the Nasdaq Global Market. The delisting marks the end of KalVista’s tenure as an independent publicly traded biotechnology company.

The acquisition reflects Chiesi’s broader strategy of expanding its presence in specialized therapeutic areas through targeted investments and acquisitions. As a research-focused biopharmaceutical company and certified B Corp, Chiesi has increasingly emphasized innovation in rare diseases, respiratory conditions, and specialty care.

Industry observers view the deal as strategically important for Chiesi because it adds a commercially approved product with global growth potential while strengthening the company’s rare disease pipeline. The addition of EKTERLY also positions Chiesi to compete more aggressively in the hereditary angioedema market, where demand continues to grow for convenient and effective treatment options.

With KalVista now fully integrated, Chiesi is expected to focus on expanding access to EKTERLY worldwide, advancing ongoing clinical studies, and building upon KalVista’s expertise in rare disease drug development. The acquisition represents another step in Chiesi’s efforts to establish itself as a leading global player in rare and ultra-rare disease therapeutics.