Chiesi Group, an international research-focused biopharmaceutical group and certified B Corp, announced on Wednesday that it has entered into a definitive agreement to acquire biopharmaceutical company KalVista Pharmaceuticals Inc (Nasdaq:KALV) for USD27.00 per share in cash, representing an equity value of approximately USD1.9bn.

The transaction was unanimously approved by both companies' boards and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory approvals and majority shareholder tender.

The acquisition will be executed via a tender offer for all outstanding KalVista shares, with a subsequent merger for any remaining shares at the same consideration. Chiesi will assume responsibility for EKTERLY (sebetralstat), an oral on-demand treatment for hereditary angioedema (HAE) and a novel plasma kallikrein inhibitor already approved across multiple major markets.

Sebetralstat, which generated USD49m in 2025 sales following its US launch in July 2025, is expected to support Chiesi's long-term strategy in rare immunology and contribute to its 2030 revenue target of EUR6bn. The transaction represents Chiesi's largest acquisition to date and is positioned to expand its rare disease portfolio and US commercial footprint.