Sanofi acquires biotech firm Synthorx for $2.5 billion
Sanofi has agreed to buy California-based biotechnology firm Synthrox, in a deal worth about $2.5 billion (£1.95 billion).
Paul Hudson, Chief Executive Officer at Sanofi, said: “This acquisition fits perfectly with our strategy to build a portfolio of high-quality assets and to lead with innovation.” He added that the purchase is aligned with their goal to “build our oncology franchise with potentially practice-changing medicines and novel combinations.”
The deal sees Sanofi offering to buy all outstanding shares of Synthorx common stock for $68 per share.
Laura Shawyer, President and Chief Executive Officer at Synthrox, said: “We are grateful that Sanofi has acknowledged the value of our Expanded Genetic Alphabet platform and the potential of our pipeline of optimised therapeutics for cancer and autoimmune disorders. Importantly, Sanofi has a portfolio of therapeutics that holds incredible promise for combining with our cytokine Synthorins to benefit patients around the world.”
This acquisition comes during a strategic review under Sanofi’s new CEO Paul Hudson, which has brought a range of personnel changes to the company.
Sanofi acquired Synthrox to boost its portfolio of drugs for cancer and auto-immune disorders.
Synthrox’s lead asset is THOR-707, which is in clinical development. It has the potential to become the best-in-class IL-2 therapeutic for the treatment of solid tumours, and to be a treatment that requires less dosing when compared to other IL-2 compounds.
Sanofi also want to incorporate Synthrox’s work into its existing products. For example, Synthrox’s Expanded Genetic Alphabet platform is expected to be combined with Nanobody technology. It will enable the company to develop a wide range of novel biologics, including drug conjugates, protein fusions, and multi-specific biologics, with applications beyond oncology and extending to other therapeutic areas.
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