Sanofi Completes $2.9 Bn Acquisition of Provention Bio By
Sanofi has completed its $2.9-billion acquisition of Provention Bio, a Red Bank, New Jersey-based bio/pharmaceutical company. Sanofi had announced the acquisition on March 13, 2023.
Provention Bio is focused on immune-mediated diseases. Its lead product, which was approved by the US Food and Drug Administration in 2022, is Tzield (teplizumab-mzwv) for delaying the onset of Stage 3 Type 1 diabetes (T1D) in adults and pediatric patients aged eight years and older with Stage 2 T1D. Tzield is also in late-stage clinical development for the treatment of pediatric and adolescent patients that are newly diagnosed with clinical T1D (Stage 3). A Phase III trial is currently underway and top-line results are expected in the second half of 2023. Additional opportunities for the drug include re-dosing and formulation as well as new therapeutic indications.