Sanofi To Acquire Kymab in $1.45-Bn Deal
Sanofi has agreed to acquire Kymab, a Cambridge, UK-based biopharmaceutical company, in a $1.45-billion deal ($1.1 billion upfront and up to $350 million in milestones).
Kymab’s lead product is KY1005, in Phase IIa development, for treating atopic dermatitis and with potential therapeutic application in multiple diseases caused by immune dysregulation. It is a monoclonal antibody that targets OX40L, a key regulator of the immune system. The company is also developing KY1044, in Phase I/II trials for treating advanced solid tumors as a monotherapy and in combination with Roche’s Tecentriq (atezolizumab), an anticancer drug. The company is also developing KY1043, an immune checkpoint inhibitor for treating cancer and for which the company expects to file an investigational new drug application in 2021.
Under the deal, Sanofi will acquire Kymab for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones. The closing of the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. Sanofi expects to complete the acquisition in the first half of 2021.
