Sanofi to Acquire Provention Bio for ~$2.9B
- 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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