Sanofi to acquire Belgian biotech firm Ablynx for €3.9bn in all-cash deal

French pharmaceutical giant Sanofi has successfully finalized an agreement to acquire Ablynx, a Belgian biotechnology firm, for approximately €3.9 billion. This strategic acquisition surpasses a previous offer of €2.6 billion from Danish pharmaceutical company Novo Nordisk, which Ablynx had rejected citing undervaluation.

Details of the Acquisition

Ablynx, based in Ghent and established in 2001 as a spin-off from Vlaams Instituut voor Biotechnologie (VIB) and Free University of Brussels (VUB), specializes in the discovery and development of nanobodies. Ablynx shareholders will receive €45 per share, a significant increase over Novo Nordisk’s earlier bid of €30.50 per share.

Strategic Benefits for Sanofi

The acquisition is set to enhance Sanofi’s research and development capabilities and expand its late-stage pipeline, particularly strengthening its platform in rare blood disorders. A key asset included in the purchase is Caplacizumab, an investigational drug aimed at treating acquired thrombotic thrombocytopenic purpura (aTTP), a rare bleeding disorder. Caplacizumab is in late-stage development and has been filed for approval in the European Union, with plans to file in the United States in the first half of the year.

Expansion in Rare Blood Disorders and Other Therapeutic Areas

Sanofi’s acquisition of Ablynx is not just limited to enhancing its rare blood disorder portfolio. Ablynx has a rich pipeline of more than 45 proprietary and partnered candidates across various therapeutic areas, including hematology, immuno-oncology, inflammation, and respiratory diseases. Notably, eight of these nanobodies are already in the clinical development stage.

Comments from Corporate Leadership

Olivier Brandicourt, CEO of Sanofi, commented on the acquisition: “With Ablynx, we continue to advance the strategic transformation of our Research and Development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders. We are also pleased to reaffirm our commitment to Belgium, where we have invested significantly over the years.”

Edwin Moses, CEO of Ablynx, also remarked on the deal’s benefits: “Since our founding in 2001, our team has been focused on unlocking the power of our Nanobody technology for patients. We believe Sanofi’s global infrastructure and commercial capabilities will accelerate our ability to deliver our pipeline.”

Future Prospects and Transaction Closure

The deal is expected to close by the end of the second quarter of 2018, pending satisfaction of the transaction’s closing conditions. This acquisition comes shortly after Sanofi’s $11.6 billion deal to acquire US biotech company Bioverativ, marking a significant expansion of Sanofi’s portfolio in specialty care and rare diseases.