Sanofi acquires Kymab for $1.1B

Monday, 11. January 2021 11:04

Sanofi S.A. announced on Monday it will buy biopharmaceutical company Kymab Ltd. for $1.1 billion.

Kymab, which focuses on the development of immune-mediated diseases and immuno-oncology therapeutics, will also receive $350 million upon achievement of certain milestones. The transaction is expected to close in the first half of 2021.

"The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases. The novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies," Sanofi CEO Paul Hudson stated.

Related Links: Sanofi S.A.
Author:
Breaking the News / MD