Sanofi to acquire UK-based biopharma company Kymab in $1.4bn worth deal
Sanofi acquisition of Kymab : French pharma giant Sanofi has signed a deal worth up to $1.45 billion to acquire Kymab, a UK-based clinical-stage biopharma company focused on developing fully human monoclonal antibodies, particularly for immune-mediated diseases, and immuno-oncology therapeutics.
The consideration includes an upfront payment of around $1.1 billion and up to $350 million in milestone payments.
Simon Sturge – CEO of Kymab, commenting on Sanofi acquisition of Kymab, said: “The agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi.
“With its significant global resources, we believe Sanofi is the perfect partner to progress Kymab’s pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.”
Through the acquisition, Sanofi will get complete global rights to KY1005, a fully human monoclonal antibody that binds to OX40-Ligand. KY1005 is believed to have the potential to treat a broad range of immune-mediated diseases and also inflammatory disorders.
Last August, Kymab reported that KY1005 met both primary endpoints in a phase 2a clinical trial in moderate to severe atopic dermatitis patients whose disease is not adequately controlled with topical corticosteroids.
KY1005 delivered a consistent treatment impact compared to placebo across multiple key endpoints such as the Eczema Area and Severity Index (EASI) and other objective clinical measures.
The pipeline of Kymab also features an oncology asset called KY1044, which is an ICOS agonist monoclonal antibody. Presently, KY1044 is in early phase 1/2 clinical development as monotherapy and in combination with an anti-PD-L1.
Kymab’s acquisition also gives Sanofi access to new antibody technologies and research capabilities.
Commenting on Sanofi acquisition of Kymab, Paul Hudson – Sanofi CEO, said: “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.
“We understand from our ongoing work in debilitating immunological diseases how critical it is to find the right treatment for each patient. We look forward to rapidly developing this investigational medicine.”
Sanofi acquisition of Kymab, which is subject to certain customary closing conditions, is likely to close in the first half of this year.