French pharma giant Sanofi will buy U.S.-based biotech firm Amunix Pharmaceuticals Inc. for an upfront payment of about $1 billion (890 million euros), pointing to the latest acquisition by the company in the U.S. biotech sphere as it targets to offset COVID-19 vaccine disruptions.
"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 French firm said in a statement on Tuesday.
Immuno-oncology firm Amunix is developing cancer therapies based on cytokines – small proteins that play a role in controlling the immune system – and T-cells, a type of white blood cell.
Its technology could "precisely tailor-deliver medicines to become active only in tumor tissues while sparing normal tissues," said Sanofi research and development chief John Reed.
Its most promising candidate medicine, dubbed AMX-818, is "expected to enter the clinic in early 2022" for trials, according to Sanofi.
Amunix is the latest in a string of acquisitions by the French company, including September's $1.6 billion buyout of U.S. biotech firm Kadmon, which is developing treatments for transplant patients.
It also bought messenger RNA research firm Translate Bio for $2.7 billion.
Sanofi aims to complete its acquisition of Amunix in the first quarter of next year.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.