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PARIS (Reuters) – Sanofi announced on Monday the acquisition of the biopharmaceutical company Kymab for an initial amount of 1.1 billion dollars (903.2 million euros) which will enable it to strengthen its presence in immunology.
The transaction also includes milestone payments of up to $ 350 million, depending on the completion of different phases of development, Sanofi said in a statement.
Kymab specializes in the clinical development of fully human monoclonal antibodies with indications in immunology and immuno-oncology. With this acquisition, Sanofi will be able to complete its development portfolio with the KY1005 antibody.
“This is a drug that could potentially be the first in its pharmacotherapeutic class for the treatment of various autoimmune and inflammatory diseases,” said Sanofi CEO Paul Hudson.
The French group, which plans to finalize the operation in the first quarter of 2021, will finance the acquisition of Kymlab with its available cash.
(Jean-Philippe Lefief and Blandine Hénault)