Sanofi to acquire Kymab, adding KY1005 to its pipeline, a human monoclonal antibody targeting key immune system regulator OX4...
January 11 2021 - 2:30AM
Sanofi to acquire Kymab, adding KY1005 to its
pipeline, a human monoclonal antibody targeting key immune system
regulator OX40L
*Continues to build on Sanofi’s leading presence in immunology
aligned with strategy to pursue best-in-class treatments in defined
areas
PARIS and CAMBRIDGE, UK
– January 11, 2021 – Sanofi and Kymab, a
clinical-stage biopharmaceutical company developing fully human
monoclonal antibodies with a focus on immune-mediated diseases and
immuno-oncology therapeutics, have entered into an agreement under
which Sanofi will acquire Kymab for an upfront payment of
approximately $1.1 billion and up to $350 million upon achievement
of certain milestones.
The transaction will result in Sanofi having
full global rights to KY1005, a fully human monoclonal antibody
that has a novel mechanism of action. KY1005 binds to OX40-Ligand
and has the potential to treat a wide variety of immune-mediated
diseases and inflammatory disorders.
“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,” said Paul Hudson, Sanofi Chief Executive
Officer. “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.”
“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,” added Simon
Sturge, Chief Executive Officer, Kymab. “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.”
KY1005: Promising antibody for
inflammatory disorders
In August 2020, Kymab announced that KY1005 met
both primary endpoints in a Phase 2a trial studying moderate to
severe atopic dermatitis patients whose disease is inadequately
controlled with topical corticosteroids. KY1005 demonstrated a
consistent treatment effect versus placebo across various key
endpoints, including in the Eczema Area and Severity Index (EASI)
and additional objective clinical measures.
“This acquisition aligns with our strategy of targeting
fundamentally important disease pathways. We believe that
OX40L, a key immune regulator, has the potential to rebalance the
immune system without suppressing it, providing a promising new
approach to treating a range of immune-mediated diseases,” said
John Reed, M.D. Ph.D., Global Head of Research & Development at
Sanofi.
Kymab’s pipeline also includes the oncology
asset KY1044, an ICOS agonist monoclonal antibody, currently in
early Phase 1/2 development as monotherapy and in combination with
an anti-PD-L1. The acquisition also provides Sanofi with access to
new antibody technologies and research capabilities.
Transaction Terms
Under the terms of the transaction, Sanofi will
acquire Kymab for an upfront payment of approximately $1.1 billion
and up to $350 million upon achievement of certain milestones.
Sanofi plans to finance the transaction with
cash on hand. 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.
Weil, Gotshal & Manges LLP is acting as
Sanofi’s legal counsel. J.P. Morgan is acting as financial advisor
to Kymab and Goodwin PLC is acting as its legal counsel.
About
Kymab
Kymab is a clinical-stage biopharmaceutical
company developing fully human monoclonal antibody therapeutics
with a focus on immune mediated diseases and immuno-oncology using
its proprietary, integrated platforms collectively called
IntelliSelect®. Kymab’s IntelliSelect Transgenic platforms contain
a full diversity of human antibodies, making them the most
comprehensive antibody platforms available.
Selecting from a broad diversity of fully human
antibodies assures the highest probability of finding drug
candidates with best-in-class characteristics quickly and
efficiently.
For more information on Kymab please see
http://www.kymab.com. Kymab and IntelliSelect are trademarks of
Kymab Limited.
About Sanofi Sanofi is dedicated to
supporting people through their health challenges. We are a global
biopharmaceutical company focused on human health. We prevent
illness with vaccines, provide innovative treatments to fight pain
and ease suffering. We stand by the few who suffer from rare
diseases and the millions with long-term chronic conditions.
With more than 100,000 people in 100 countries, Sanofi is
transforming scientific innovation into healthcare solutions around
the globe. Sanofi, Empowering Life |
Sanofi Media Relations Contacts Ashleigh Koss
Tel.: +1 (908) 205 2572 ashleigh.koss@sanofi.com Quentin
VivantTel.: +33 (0)1 53 77 46 46mr@sanofi.com
KymabAnne
HylandAnne.hyland@kymab.com Brandon
LewisBrandon.lewis@kymab.com+44 (0) 1223 833 301 |
Sanofi
Investor Relations Contacts Paris Eva Schaefer-Jansen
Arnaud DelepineYvonne Naughton Sanofi Investor
Relations Contacts North America Felix LauscherFara
BerkowitzSuzanne Greco IR main line:Tel.: +33 (0)1 53 77 45
45 ir@sanofi.com Kymab Media
UKConsilium Strategic Communications Mary-Jane Elliott /
Sukaina Virji / Melissa Gardiner kymab@consilium-comms.com Tel: +44
(0) 20 3709 5700 |
Sanofi Forward-Looking Statements This press
release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements are statements that are not historical
facts and may include projections and estimates and their
underlying assumptions, statements regarding plans, objectives,
intentions and expectations with respect to future financial
results, events, operations, services, product development and
potential, and statements regarding future performance.
Forward-looking statements are generally identified by the words
“expects”, “anticipates”, “believes”, “intends”, “estimates”,
“plans”, “will be” and similar expressions. Although Sanofi’s
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that forward-looking information and statements are subject to
various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Sanofi, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include
among other things, risks related to Sanofi’s ability to complete
the acquisition on the proposed terms or on the proposed timeline,
including the receipt of required regulatory approvals, other risks
associated with executing business combination transactions, such
as the risk that the businesses will not be integrated
successfully, that such integration may be more difficult,
time-consuming or costly than expected or that the expected
benefits of the acquisition will not be realized including the
ability to develop, commercialize or market new products,
competition, the uncertainties inherent in research and
development, including future clinical data and analysis,
regulatory obligations and oversight by regulatory authorities,
such as the FDA or the EMA, including decisions of such authorities
regarding whether and when to approve any drug, device or
biological application that may be filed for any product candidates
as well as decisions regarding labelling and other matters that
could affect the availability or commercial potential of any
product candidates, the absence of a guarantee that any product
candidates, if approved, will be commercially successful, the
future approval and commercial success of therapeutic alternatives,
Sanofi’s ability to benefit from external growth opportunities and
to complete related transactions and/or obtain regulatory
clearances, risks associated with Sanofi’s and Kymab’s intellectual
property and any related pending or future litigation and the
ultimate outcome of such litigation, trends in exchange rates and
prevailing interest rates, volatile economic and market conditions,
cost containment initiatives and subsequent changes thereto, and
the impact that COVID-19 will have on Sanofi and Kymab and their
respective customers, suppliers, vendors, and other business
partners, and the financial condition of any one of them, as well
as on Sanofi’s and Kymab’s employees and on the global economy as a
whole. Any material effect of COVID-19 on any of the
foregoing could also adversely impact Sanofi and Kymab. This
situation is changing rapidly and additional impacts may arise of
which Sanofi and Kymab are not currently aware and may exacerbate
other previously identified risks. While the list of factors
presented here is representative, no list should be considered a
statement of all potential risks, uncertainties or assumptions that
could have a material adverse effect on Sanofi’s consolidated
financial condition or results of operations. The foregoing
factors should be read in conjunction with the risks and cautionary
statements discussed or identified in the public filings with the
U.S. Securities and Exchange Commission (the “SEC”) and AMF made by
Sanofi, including those listed under “Risk Factors” and “Cautionary
Statement Regarding Forward-Looking Statements” in Sanofi’s annual
report on Form 20-F for the year ended December 31, 2019 and in
subsequent Form 6-Ks filed with the SEC. The forward-looking
statements speak only as of the date hereof and, other than as
required by applicable law, Sanofi does not undertake any
obligation to update or revise any forward-looking information or
statements. |
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