Sanofi has signed an agreement to acquire clinical-stage biopharmaceutical company Kymab for an upfront payment of about $1.1bn in cash.
The deal also includes payment of up to $350m on achieving particular milestones.
According to the deal, Sanofi will gain full global rights to Kymab鈥檚 fully human monoclonal antibody, KY1005 that attaches to OX40-Ligand and can potentially treat various immune-mediated diseases and inflammatory ailments.
Sanofi CEO Paul Hudson said: 鈥淭he Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases.
鈥淭he novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies. We look forward to rapidly developing this investigational medicine.鈥�
Last August, Kymab reported that KY1005 met both primary endpoints in a Phase IIa trial that analysed patients with moderate to severe atopic dermatitis.
Kymab鈥檚 pipeline also has an ICOS agonist monoclonal antibody, KY1044, which is currently in early Phase I / II development as monotherapy and in combination with an anti-PD-L1.
As well as this oncology asset, Sanofi will have access to Kymab鈥檚 latest antibody technologies and research capabilities.
Kymab CEO Simon Sturge said: 鈥淭he agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi.
鈥淲ith its significant global resources, we believe Sanofi is the perfect partner to progress Kymab鈥檚 pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.鈥�
Last November, Sanofi signed a definitive agreement to acquire the entire share capital of Kiadis Pharma in a deal valued at approximately 鈧�308m ($359m).
Sanofi anticipates concluding the deal in the first half of this year.
