Sanofi Completes $4.8-Billion Acquisition of Biopharm Company AblynxBy
Sanofi has completed its $4.8-billion acquisition of Ablynx, a Ghent, Belgium-based biopharmaceutical company focused on developing and commercializing proprietary therapeutic proteins based on single-domain antibody fragments. The deal was announced in January 2018.
Sanofi says the acquisition continues its focus on technologies addressing multiple disease targets with single multi-specific molecules. Ablynx has a pipeline of more than 45 proprietary and partnered Nanobody (the proprietary name for its therapeutic proteins based on single-domain antibody fragments) candidates for a range of therapeutic areas in areas such as hematology, inflammation, immuno-oncology, and respiratory diseases, according to Sanofi. Eight Nanobodies have entered clinical development.
Ablynx’s most advanced product in development is caplacizumab, an anti-von Willebrand factor Nanobody, for treating acquired thrombotic thrombocytopenic purpura, a rare blood disorder. The company filed a marketing authorization application in the European Union, and at the time of the announced acquisition in January 2018, expected to file in the US during the first half of 2018.
Sanofi completed the acquisition following a squeeze-out procedure. The squeeze-out period commenced on May 22, 2018, in accordance with applicable Belgian and US law, following the acquisition by Sanofi of more than 95% of the outstanding shares of Ablynx upon settlement of the initial acceptance period of its tender offer for Ablynx. On June 12, 2018, upon expiration of the squeeze-out period, 2,893,201 shares and eightconvertible bonds of Ablynx were tendered in the squeeze-out.