Immunotherapy Portfolio Expanded
Sanofi announced a deal to acquire Kymab, a clinical-stage biopharmaceutical company developing fully human monoclonal antibody therapeutics, in their latest move to expand their business operations in this fast-growing sector.
The French titan will pay $1.1 billion upfront for Kymab, with an additional $350 million available if the latter reaches certain milestones.
“The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases. The novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies,” said Paul Hudson, Sanofi Chief Executive Officer.
“We understand from our ongoing work in debilitating immunological diseases how critical it is to find the right treatment for each patient. We look forward to rapidly developing this investigational medicine.”
The centerpiece of the transaction is for Sanofi to acquire rights to KY1005, a fully human monoclonal antibody that has a novel mechanism of action. According to Kymab, KY1005 has the capacity to treat a wide range of immune-mediated diseases and inflammatory disorders.
“The agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi,” added Simon Sturge, Chief Executive Officer, Kymab. “With its significant global resources, we believe Sanofi is the perfect partner to progress Kymab’s pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.”
In November, Sanofi expanded its Immunotherapy business by acquiring Dutch biotechnology company Kiadis for €308 million ($376 million), just three months after acquiring US-based autoimmune diseases specialist Principia Biopharma for $3.7 billion.
Similarly, the French company spent $2.5 billion to buy Synthorx in December 2019. All three companies are active in the immunotherapy sector.
In August, the business scooped up US autoimmune diseases specialist Principia Biopharma for $3.7 billion, following a $2.5 billion investment to acquire immuno-oncology treatments group Synthorx in December 2019.
Sanofi stock price trades 1.2% higher in Paris today.
Sanofi said it agreed to pay up to $1.45 billion to acquire British immunotherapy firm Kymab. The French biopharma titan will pay $1.1 billion upfront for Kymab, with a further $350 million available in bonuses.
About the Author
Avi Ben Ezra is the Chief Technology Officer (CTO) and Cofounder of SnatchBot and SnatchApp (Snatch Group Limited). He leads the Group’s long-term technology vision and is responsible for running all facets of the tech business which includes being the architect of the platforms and UI interfaces.