Business Deal Sanofi Completes Synthorx Acquisition
With this takeover, Sanofi aims to strengthen its position in the oncology and immunology segment. The move is also in line with the firm’s R&D strategy. The company has paid 68 dollars for each share of Synthorx in cash.
Paris/France – Sanofi has recently announced the successful completion of its acquisition of Synthorx for 68 dollars per share in cash.
“The acquisition of Synthorx perfectly aligns with our R&D strategy, enhancing our position as an emerging leader in the area of oncology and immunology,” says Paul Hudson, Chief Executive Officer, Sanofi. “We gain access to both great scientists and science with Thor-707, an engineered not-alpha IL-2 for the treatment of solid tumors which induces strong immunological responses in vivo, additional intriguing pre-clinical assets, and a powerful platform that complements our ongoing oncology and immunology research.”
The tender offer for all of the outstanding shares of Synthorx common stock expired as scheduled on January 22, 2020. The minimum tender condition and all of the other conditions to the offer have been satisfied and on January 23, 2020, Sanofi and its wholly owned subsidiary Thunder Acquisition Corp. (Purchaser), accepted for payment and will promptly pay for all shares validly tendered and not properly withdrawn.
Following its acceptance of the tendered shares, Sanofi completed its acquisition of Synthorx through the merger of Purchaser with and into Synthorx, pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, with Synthorx continuing as the surviving corporation and becoming an indirect, wholly owned subsidiary of Sanofi.