U.S. Markets closed

Sanofi Agrees To Buy US-Based Amunix Pharma For $1B Upfront

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Sanofi SA (NASDAQ: SNY) will buy an immuno-oncology company, Amunix Pharmaceuticals Inc, for an upfront payment of about $1 billion.

  • Sanofi will also pay Amunix up to $225 million based on certain future development milestones.

  • "We are excited to advance Amunix's promising pipeline rapidly and to combine their innovative candidate medicines with complementary molecules in Sanofi's immuno-oncology portfolio," said John Reed, global head of research and development at Sanofi.

  • Earlier this year, Sanofi said it would buy two U.S. biotechs, Kadmon Holdings and Translate Bio, for .9 billion and .2 billion, respectively.

  • Amunix's pipeline, which includes lead candidate AMX-818, a masked HER2-directed TCE, offers a strong strategic fit with Sanofi's focus on developing therapies in immuno-oncology.

  • Sanofi expects to complete the acquisition in Q1 of 2022.

  • Price Action: SNY shares are up 0.61% at $49.27 during the premarket session on the last check Tuesday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.