Sanofi to Acquire UK Biopharmaceutical Company Kymab With $1.1 Billion Upfront Payment
11 January 2021 - 07:20PM
Dow Jones News
By Cecilia Butini
Sanofi SA said Monday that it has entered into an agreement to
acquire U.K.-based biopharmaceutical company Kymab for an upfront
payment of about $1.1 billion.
The French pharmaceutical major said the deal also includes the
payment of up to $350 million upon achievement of certain
milestones.
The acquisition of Kymab--which focuses on the development of
fully human monoclonal antibodies--would give Sanofi full global
rights to the KY1005 monoclonal antibody, it said. The antibody can
be used in the treatment of a range of immune and inflammatory
diseases, according to Sanofi.
The acquisition will be financed in cash and is expected to
close in the first half of 2021, the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 11, 2021 03:05 ET (08:05 GMT)
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