Transaction expected to give Sanofi immediate ownership of recently approved first-in-class cGVHD treatment drug, Rezurock.
Earlier today, the French giant Sanofi announced it had entered into a definitive merger agreement with Kadmon Holdings, which specializes in the discovery, development, and marketing of transformative therapies for disease areas of significant unmet medical needs. The acquisition is expected to strengthen Sanofi’s existing transplant business, which ‘mainly consists of Thymoglobulin® (anti-thymocyte globulin), a polyclonal, anti-human thymocyte antibody preparation that acts as a broad immunosuppressive and immunomodulating agent and Mozobil® (plerixafor), a hematopoietic stem cell mobilizer’. The two products are registered and marketed across more than 65 countries. The cash transaction will immediately add Rezurock to Sanofi’s transplant portfolio, while also supporting the pharma giant’s strategy to continue growing its General Medicines core assets. The announcement closely follows Sanofi’s $3.2 billion acquisition of Translate Bio last month.
Rezurock has been recently approved by the FDA and was subsequently launched in the U.S. making it a ‘first-in-class treatment for chronic graft-versus-host disease for adult and pediatric patients 12 years and older who have failed at least two prior lines of systemic therapy’, according to a statement announcing the deal. “We are transforming and simplifying our General Medicines business and have shifted our focus on differentiated core assets in key markets,” said Olivier Charmeil, EVP General Medicines, Sanofi. According to the deal’s terms, Kadmon’s stockholders are to receive $9.50 per share in cash, representing a total equity value of approximately $1.9 billion. “We are excited that Sanofi has acknowledged the value of Rezurock and the deep potential of our pipeline,” said Harlan Waksal, President and Chief Executive Officer of Kadmon.