Sanofi to acquire US biotech firm Sythorx $2.5bn

Mubasher: Sanofi on Monday said it will take over US biotechnology company Synthorx in a cash deal that valued the latter at $2.5 billion, according to a press release.

The French pharmaceutical major aims to boost its pipeline of treatment for cancer and autoimmune disorders.

Under the deal, which was unanimously approved by boards of both companies, Sanofi will pay $68 per each outstanding Synthorx share.

This represents a 172% premium to Synthorx’s closing share price on Friday’s session.

“This acquisition […] is aligned with our goal to build our oncology franchise with potentially practice-changing medicines and novel combinations,” Sanofi’s CEO Paul Hudson said.

It is worth noting that Synthorx a clinical-stage biotechnology company focused on therapies for people with cancer and autoimmune disorders.

The acquisition would boost Sanofi’s immuno-oncology franchise, with Synthorx’s lead product, THOR-707, which is currently under clinical development, having the potential to be the best therapy for solid tumors.

The transaction is set to be concluded on in the first quarter of next year, Sanofi said.

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