Sanofi To Buy Amunix For An Upfront Payment Of $1 Bln - Quick Facts

French drug major Sanofi (SNYNF,SNY) announced Tuesday that it has entered into an agreement to acquire Amunix Pharmaceuticals, Inc., an immuno-oncology company.

Under the deal terms, Sanofi will acquire Amunix for an upfront payment of approximately $1 billion and up to $225 million upon achievement of certain future development milestones.

The closing of the deal is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. Sanofi expects to complete the acquisition in the first quarter of 2022.

Sanofi said the acquisition supports its efforts to accelerate and expand its contributions to innovative medicines for oncology patients, with approximately 20 molecules currently in development.

Amunix's proprietary XTEN masks and cleavable linkers are a next-generation protein engineering approach. They allow biologics to circulate in "stealth" mode, becoming active preferentially in disease specific micro-environments, with the aim to enable safer?and?more efficacious?medicines.

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

In the deal, Weil, Gotshal & Manges LLP is acting as Sanofi's legal counsel. Centerview Partners LLC is acting as financial advisor to Amunix.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT