Sanofi To Acquire Kadmon for $1.9 Bn To Advance Transplant Business
Sanofi has agreed to acquire Kadmon Holdings, a bio/pharmaceutical company, for $1.9 billion to advance its transplant business. Kadmon’s pipeline includes drug candidates for immune and fibrotic diseases as well as immuno-oncology therapies.
Sanofi’s transplant business mainly consists of Thymoglobulin (anti-thymocyte globulin), a polyclonal, anti-human thymocyte antibody preparation that acts as a broad immunosuppressive and immunomodulating agent, and Mozobil (plerixafor), a hematopoietic stem-cell mobilizer.
A key asset from Kadmon is Rezurock (belumosudil), a treatment for chronic graft-versus-host disease (cGVHD). In July (July 2021), the US Food and Drug Administration approved Rezurock for treating adult and pediatric patients 12 years and older with cGVHD after the failure of at least two prior lines of systemic therapy. Rezurock was launched in August (August 2021) in the US. Kadmon is also developing Rezurock for treating diffuse cutaneous systemic sclerosis, with a Phase II clinical trial currently ongoing.
Under the deal, shareholders of Kadmon common stock will receive $9.50 per share in cash, which represents a total equity value of approximately $1.9 billion (on a fully diluted basis). Sanofi’s and Kadmon’s Boards of Directors have unanimously approved the transaction.
Subject to the satisfaction or waiver of customary closing conditions, Sanofi expects to complete the acquisition in the fourth quarter of 2021.