The latest news on mergers and acquisitions featuring Sanofi/Dren Bio, Taiho Pharmaceutical/Araris Biotech, AstraZeneca/EsoBiotec and Bristol Myers Squibb/2seventy bio. Highlights below.

* Sanofi To Acquire Bispecific Antibody from Dren Bio in $1.9-Bn Deal
* Taiho To Acquire ADC Company Araris Biotech in $1.1-Bn Deal
* AstraZeneca To Acquire Cell Therapy Company EsoBiotec in $1-Bn Deal
* BMS To Acquire 2seventy bio for $286 M

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Sanofi To Acquire Bispecific Antibody from Dren Bio in $1.9-Bn Deal
Sanofi and Dren Bio, a clinical-stage bio/pharmaceutical company, have entered into a definitive agreement under which Sanofi has agreed to acquire Dren Bio’s DR-0201, a bispecific antibody for treating certain autoimmune diseases, in a deal worth up to $1.9 billion ($600 million upfront and  $1.3 billion in milestone payments).

DR-0201 is a targeted bispecific myeloid cell engager (MCE) that has shown B-cell depletion in preclinical and early clinical studies. It is a CD20-directed bispecific antibody that targets and engages specific tissue-resident and trafficking myeloid cells to induce deep B-cell depletion via targeted phagocytosis. Recent early clinical study data in autoimmune diseases suggest that deep B-cell depletion might have the potential to reset the adaptive immune system, which has the potential to provide sustained treatment-free remission in patients with refractory B-cell mediated autoimmune diseases such as lupus. DR-0201 is being evaluated in two ongoing Phase I studies in autoimmune disease and oncology applications.

Under the agreement, Sanofi will acquire DR-0201 for an upfront payment of $600 million and potential future payments totaling $1.3 billion upon achievement of certain development and launch milestones.

The acquisition is subject to closing conditions, including receipt of regulatory approvals. The companies expect the transaction to close during the second quarter of 2025. After the acquisition of DR-0201, Dren Bio will continue to operate independently to advance its pipeline of antibody therapeutics that selectively deplete pathogenic cells and other disease-causing agents

Source: Sanofi

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Taiho To Acquire ADC Company Araris Biotech in $1.1-Bn Deal
Taiho Pharmaceutical, a Tokyo-based bio/pharmaceutical company, has agreed to acquire Araris Biotech, a Swiss biotechnology company developing antibody drug conjugates (ADCs), in a deal worth up to $1.1 billion ($400 million upfront and $740 million in milestone payments).

Araris is a spin-off company of the Paul-Scherrer-Institute in Switzerland and has a proprietary ADC linker platform, AraLinQ, which seeks to achieve high linker solubility and improved manufacturing to address certain shortcomings of current ADCs. Araris is advancing three products for the treatment of hematological and solid tumors developed using its platform, which are currently in the preclinical stage. These products are anticipated to enter into clinical trials between 2025 and 2026.

Under the agreement, Taiho Pharmaceutical will pay $400 million at closing, with the potential for additional milestone payments of up to $740 million. Following closing conditions, the acquisition is expected to be completed in the first half of 2025. The acquisition follows a research collaboration between Taiho Pharmaceutical and Araris signed in November 2023.

Source: Taiho Pharmaceutical

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AstraZeneca To Acquire Cell Therapy Company EsoBiotec in $1-Bn Deal
AstraZeneca has agreed to acquire EsoBiotec, a Charleroi, Belgium-based cell-therapy company, in a deal worth up to $1 billion ($425 million upfront and $575 million in milestone payments).

EsoBiotec’s platform, EsoBiotec Engineered NanoBody Lentiviral (ENaBL), uses lentiviruses to deliver genetic instructions to specific immune cells, such as T cells, which program them to recognize and destroy tumor cells for cancer treatment or autoreactive cells for potential use in immune-mediated diseases. This approach enables cell therapies to be administered through an IV injection and without the need for immune-cell depletion.

AstraZeneca will acquire all outstanding equity of EsoBiotec for a total consideration of up to $1 billion. This will include an initial payment of $425 million on deal closing, and up to $575 million in contingent consideration based on development and regulatory milestones.

The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions and regulatory clearances.

Source: AstraZeneca

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BMS To Acquire 2seventy bio for $286 M
Bristol Myers Squibb (BMS) has agreed to acquire 2seventy bio, a Cambridge, Massachusetts-based bio/pharmaceutical company, for $286 million.

2seventy bio’s commercial product, Abecma (decabtagene vicleuce), is a CAR T therapy that is a B-cell maturation antigen-directed genetically modified autologous T cell immunotherapy indicated for the treatment of adult patients with relapsed or refractory multiple myeloma after two or more prior lines of therapy, including an immunomodulatory agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody.

Under the agreement, BMS will commence a tender offer to acquire all outstanding shares of 2seventy bio at a price of $5.00 per share in an all-cash transaction.

The closing of the transaction is expected to occur in the second quarter of 2025 and is subject to customary closing conditions, including the tender of a majority of the outstanding shares of 2seventy bio’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Following the successful closing of the tender offer, BMS will acquire all remaining shares of 2seventy bio common stock that are not tendered in the tender offer through a second-step merger at the same price in the tender offer of $5.00 per share.

Source: 2seventy bio