Sanofi will buy Kymab, a Cambridge, United Kingdom-based drugmaker that develops monoclonal antibodies, the companies announced Jan. 11.
Under the deal, Sanofi will pay Kymab $1.1 billion in cash upfront and up to another $350 million based on certain milestones.
The transaction gives Sanofi global rights to KY1005, Kymab's human monoclonal antibody that has shown promise in treating severe eczema during clinical trials.
“The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases," Sanofi CEO Paul Hudson said in a news release. "We look forward to rapidly developing this investigational medicine."
Sanofi will also gain rights to Kymab's experimental monoclonal antibody cancer treatment, antibody technologies and research capabilities.
More articles on pharmacy:
What more pharmacy deserts amid the pandemic means for public health
Pfizer vaccine effective against UK, South Africa COVID-19 strains, study suggests
New York to launch COVID-19 vaccination phase 1b