Sanofi and Ablynx, a biopharmaceutical company engaged in the discovery and development of Nanobodies, entered into a definitive agreement under which Sanofi will offer to acquire all of the outstanding ordinary shares, including shares represented by American Depositary Shares (ADSs), warrants and convertible bonds of Ablynx at a price per Ablynx share of €45 ($55.64) in cash, which represents an aggregate equity value of approximately €3.9 billion ($4.82 billion).
The transaction was unanimously approved by both the Sanofi and Ablynx boards of directors.
“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,” Olivier Brandicourt, Sanofi’s chief executive officer, commented. “This acquisition builds on a successful existing partnership. We are also pleased to reaffirm our commitment to Belgium, where we have invested significantly over the years in our state-of-the-art biologics manufacturing facility in Geel. We intend to maintain and support the Ablynx science center in Ghent.”
Sustaining Innovation in R&D
The acquisition of Ablynx continues Sanofi’s commitment to breakthrough innovation, focused on technologies addressing multiple disease targets with single multi-specific molecules.
Nanobodies are a novel class of proprietary next generation biologicals. Ablynx is at the leading edge of Nanobody technology supporting a deep pipeline of more than 45 proprietary and partnered candidates for a wide range of therapeutic areas such as hematology, inflammation, immuno-oncology, and respiratory diseases. Eight Nanobodies have entered clinical development.
Sanofi is committed to accelerating development and maximizing the commercial potential of Ablynx’s ongoing and emerging programs.
Strengthening Sanofi’s Platform in Rare Blood Disorders
Ablynx’s most advanced product in development is caplacizumab (anti-vWF Nanobody), a wholly owned development program for the treatment of acquired thrombotic thrombocytopenic purpura (aTTP). The product is already filed in the European Union and expected to be filed in the U.S. during the first half of this year. Caplacizumab, if approved, would be the first-in-class treatment for this acute, life-threatening disease.
The addition of caplacizumab to Sanofi’s platform strengthens its position in rare blood disorders, complementing the recently announced agreements to acquire Bioverativ and obtain global rights for fitusiran from Alnylam.
“Since our founding in 2001, our team has been focused on unlocking the power of our Nanobody technology for patients,” Edwin Moses, Ablynx’s chief executive officer, said. “The results of our work are validated by clinical data. As we look ahead, we believe Sanofi’s global infrastructure, commitment to innovation and commercial capabilities will accelerate our ability to deliver our pipeline.”
(€1 = $1.24 on January 29, 2018)
Filed Under: Drug Discovery