Sanofi Outpaces Novo, Buys Ablynx for $4.8 billion
The French drugmaker has now acquired Ablynx, for $4.8 billion after the Belgian biotech turned down two previous bids by Novo Nordisk.
The acquisition of Ablynx continues Sanofi’s commitment to breakthrough innovation, focused on technologies addressing multiple disease targets with single multi-specific molecules.
Under the deal, Sanofi will pay 45 euros per share in cash for Ablynx, a premium of 21 percent over its closing price on Friday, and more than double the price before Novo went public with its initial bid.
Nanobodies are a novel class of proprietary next generation biologicals. Ablynx is at the leading edge of Nanobody technology supporting a deep pipeline of more than 45 proprietary and partnered candidates for a wide range of therapeutic areas such as hematology, inflammation, immuno-oncology, and respiratory diseases. Eight Nanobodies have entered clinical development.
Ablynx would bring to Sanofi its first-in-class acquired thrombotic thrombocytopenic purpura (aTTP) candidate caplacizumab (anti-von Willebrand factor [vWF] Nanobody), a wholly owned development program. Ablynx has already filed for approvals for caplacizumab in the European Union, with plans to do likewise in the U.S. during the first half of this year.
“With Ablynx, we continue to advance the strategic transformation of our Research and Development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders,
” Olivier Brandicourt, Sanofi’s chief executive officer, commented. “This acquisition builds on a successful existing partnership. We are also pleased to reaffirm our commitment to Belgium, where we have invested significantly over the years in our state-of-the-art biologics manufacturing facility in Geel. We intend to maintain and support the Ablynx science center in Ghent.”“Since our founding in 2001, our team has been focused on unlocking the power of our Nanobody technology for patients. The results of our work are validated by clinical data,” said Ablynx CEO Edwin Moses, Ph.D. “As we look ahead, we believe Sanofi’s global infrastructure, commitment to innovation, and commercial capabilities will accelerate our ability to deliver our pipeline. Our Board of Directors feels strongly that this transaction represents compelling value for shareholders and maximizes the potential of our pipeline to the benefit of all stakeholders.”
