Sanofi to Acquire Provention Bio for ~$2.9B
Shots:
- Sanofi to acquire all outstanding shares of Provention Bio for $25.00/share in cash representing a total equity value of ~$2.9B. The transaction is expected to complete in Q2’23
- The transaction expands Sanofi's core asset portfolio in General Medicines with innovative, fully owned, first-in-class therapy for T1D. Tzield (CD3-directed Ab) was approved in the US as the first therapy to delay the onset of Stage 3 T1D in adults & pediatric patients aged ≥8yrs. with Stage 2 T1D
- The acquisition will combine Provention Bio’s transformative innovation & Sanofi’s expertise to provide patients benefits with the risk of developing Stage 3 type 1 diabetes. The P-III trial (PROTECT) of Tzield is currently ongoing & results are expected in H2’23
Ref: Globenewswire | Image: Sanofi
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
