Sanofi Acquires Kymab in $1.45-Bn Deal and Tidal in $470-M Deal
Sanofi has completed two acquisitions: Kymab, a Cambridge, UK-based biopharmaceutical company, in a $1.45-billion deal ($1.1 billion upfront and up to $350 million in milestones) and Tidal Therapeutics, a Cambridge, Massachusetts-based company developing mRNA immunotherapies, in a $470-million deal ($160 million upfront and $310 million in milestone payments).
Kymab’s lead product is KY1005, in Phase IIa development, for treating atopic dermatitis and with potential therapeutic application in multiple diseases caused by immune dysregulation. It is a monoclonal antibody that targets OX40L, a regulator of the immune system. The company is also developing KY1044, in Phase I/II trials for treating advanced solid tumors, as a monotherapy and in combination with Roche’s Tecentriq (atezolizumab), an anticancer drug. The company is also developing KY1043, an immune checkpoint inhibitor for treating cancer and for which the company expects to file an investigational new drug application in 2021.
As outlined in the acquisition agreement announced in January 2021, Sanofi acquired Kymab for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones.
Separately, Sanofi has acquired Tidal Therapeutics, a, preclinical-stage biopharmaceutical company with a mRNA-based approach for in vivo reprogramming of immune cells. The company is focused on developing nanoparticles that deliver mRNA to reprogram immune cells inside the body with applications in oncology and immune diseases. Tidal Therapeutics has ongoing preclinical programs, including in vivo re-programming of T cells for cancer indications.
The acquisitions expand Sanofi’s research capabilities in both immuno-oncology and inflammatory diseases with potential applicability to other disease areas as well. Sanofi acquired Tidal Therapeutics for an upfront payment of $160 million and up to $310 million upon achievement of certain milestones.