Sanofi announced today that it has completed its acquisition of Kadmon Holdings, maker of the FDA-approved Rezurock to treat chronic graft-versus-host disease in transplant patients.
Kadmon shareholders approved the deal on November 5 and will receive $9.50 per share in cash. The company becomes a wholly-owned subsidiary of Sanofi.
When announcing the deal in September, Sanofi’s EVP of General Medicines Olivier Charmeil said he thought the French pharma giant’s scale, expertise, and relationships in transplant would enable the realization of the “full potential of Rezurock.” The treatment, he said, addresses the significant unmet medical needs of patients with chronic graft-versus-host disease.
Kadmon’s pipeline includes drug candidates for immune and fibrotic diseases — and immuno-oncology therapies.
Before Sanofi sealed the deal, Kadmon had received inquiries from two other potential buyers, enabling the company to raise its acquisition price, according to an SEC filing.
After the acquisition was announced, KDMN shares jumped from $5.30 on Sept. 7 to $9.08 on the following day. The shares had ticked up to $9.50 on Nov. 8.
Filed Under: Immunology