Sanofi is set to acquire Cambridge, UK-headquartered Kymab and thereby add KY1005 to its pipeline, a human monoclonal antibody targeting key immune system regulator OX40L.
Pharma giant Sanofi and Kymab, a clinical-stage biopharmaceutical company developing fully human monoclonal antibodies centered on immune-mediated diseases and immuno-oncology therapies, have agreed to a deal under which Sanofi will purchase Kymab for an initial cost of approximately $1.1 billion and will make a transaction of up to $350 million upon reaching certain targets.
This is a significant step towards Sanofi gaining global rights to KY1005, a fully human monoclonal antibody that has a novel mechanism of action. KY1005 binds to OX40-Ligand and has the potential to treat a wide variety of immune-mediated and inflammatory diseases.
Paul Hudson, Sanofi Chief Executive Officer said:
“The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases. The novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies. We understand from our ongoing work in debilitating immunological diseases how critical it is to find the right treatment for each patient. We look forward to rapidly developing this investigational medicine.”
Simon Sturge, Chief Executive Officer, Kymab added:
“The agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi. With its significant global resources, we believe Sanofi is the perfect partner to progress Kymab’s pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.”
KY1005 – the promising OX40L monoclonal antibody for inflammatory disorders
In August 2020, Kymab revealed that in a Phase 2a trial studying moderate to serious atopic dermatitis patients whose condition is insufficiently controlled with topical corticosteroids, KY1005 reached all primary endpoints. The KY1005 antibody has shown a strong therapeutic impact against placebo across the Eczema Area and Severity Index (EASI) and additional objective clinical endpoints.
John Reed, M.D. Ph.D., Global Head of Research & Development at Sanofi said:
“This acquisition aligns with our strategy of targeting fundamentally important disease pathways. We believe that OX40L, a key immune regulator, has the potential to rebalance the immune system without suppressing it, providing a promising new approach to treating a range of immune-mediated diseases.”
Kymab’s pipeline also includes the oncology asset KY1044, an ICOS agonist monoclonal antibody, presently in early Phase 1/2 development as a monotherapy and in conjunction with anti-PD-L1. The purchase also gives Sanofi access to new antibody technology and scientific expertise.
Terms for Transaction of the $1.1 Billion deal
With cash on deposit, Sanofi plans to fund the deal and to acquire Kymab for an upfront payment of about $1.1 billion and up to $350 million upon achieving certain targets according to the agreement terms. Under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing terms, the closing of the transaction is subject to the expiration or dissolution of the waiting period. In the first half of 2021, Sanofi expects the transaction to be completed.
Weil, Gotshal & Manges LLP is operating as legal counsel for Sanofi. J.P. Morgan acts as Kymab’s strategic financial counsel and Goodwin PLC acts as its legal advisor.
More about Kymab
Kymab is a clinical-stage biopharmaceutical company developing fully human monoclonal antibody therapeutics, focused on immune-mediated diseases and immuno-oncology using its proprietary, integrated platforms collectively called IntelliSelect®. The IntelliSelect Transgenic platforms by Kymab include a wide spectrum of human antibodies, making them the most robust antibody platforms existing up to date. Choosing from a wide range of fully human antibodies provides the greatest likelihood of easily and reliably selecting drug candidates with best-in-class characteristics.
Please see http://www.kymab.com for more information about Kymab.
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Original Source – Press Release: http://www.globenewswire.com/news-release/2021/01/11/2155914/0/en/Sanofi-to-acquire-Kymab-adding-KY1005-to-its-pipeline-a-human-monoclonal-antibody-targeting-key-immune-system-regulator-OX40L.html?print=1