Sanofi SA announced Monday that it reached an agreement with US biopharmaceutical company Provention Bio, Inc to acquire it for $25 per share in cash, a deal worth approximately $2.9 billion.
Prevention Bio is a publicly traded company focused on the prevention of immune diseases, including type 1 diabetes. The deal adds to the French company's portfolio and further boosts its strategic shift towards products with a differentiated profile.
"By coupling Provention Bio's transformative innovation with Sanofi's expertise, we aim to bring life-changing benefits to people at risk of developing Stage 3 type 1 diabetes. Any additional indications, approvals and pipeline assets only serve to further our excitement. Given our existing partnership and complementary work in the diabetes and immunology spaces, we foresee a seamless integration and execution," commented Olivier Charmeil, Executive Vice President of General Medicines at Sanofi.
