Sanofi (SAN) buys US oncology specialist Amunix for $ 1 billion

French Sanofi (SAN) has announcement it will buy Amunix Pharmaceuticals, a California specialist in immuno-oncology, for around $ 1 billion (£ 756 million).

The pharmaceutical giant said Immunix will give it a “promising pipeline” of T cell activators and cytokine therapies, with cancer therapy – AMX-818 – expected to be in clinics early next year.

The initial payment of $ 1 billion will be followed by an amount of up to $ 225 million upon completion of future stages of development.

“The Amunix technology platform uses a next-generation intelligent biologic approach to deliver drugs tailored precisely to become active only in tumor tissue while sparing normal tissue, thus bringing the promise of more effective and efficient treatment options. safer for cancer patients, ”said Sanofi’s global director. of research and development John Reed.

American acquisitions

The acquisition follows Sanofi’s recent purchases of U.S. companies Translate Bio, maker of mRNA-based therapies, for approximately $ 3.2 billion, and Kadmon Holdings, developer of a recently approved FDA treatment for chronic graft-versus-host disease, for $ 1.9 billion.

Sanofi seeks to develop its core business assets in general medicine.

The French pharmaceutical company is currently working on a Covid-19 vaccine with GlaxoSmithKline, which it says has shown “consistently strong immune responses” but has suffered many delays compared to other vaccines.

In October, Sanofi announced double digit sales growth in the third quarter and increased its forecast for the year 2021.

Read more: Sanofi (SAN) and GlaxoSmithKline (GSK) announce positive booster data

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