Pharmaceutical firm Sanofi agreed yesterday to acquire UK-based monoclonal antibody therapy developer Kymab in a deal sized at up to $1.45bn that will enable pharmaceutical manufacturer Shenzhen Hepalink to exit.
The transaction will consist of $1.1bn in cash and up to $350m in milestone payments. It comes after approximately $220m in funding for the company.
Founded in 2010, Kymab is developing treatments for cancer and immune-mediated diseases. Its lead product candidate, KY1005, is a monoclonal antibody that could potentially treat a range of immune-mediated diseases and inflammatory disorders.
Sanofi CEO Paul Hudson said: “The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases. The novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies.
“We understand from our ongoing work in debilitating immunological diseases how critical it is to find the right treatment for each patient. We look forward to rapidly developing this investigational medicine.”
Venture capital fund Ori Healthcare Fund led Kymab’s $100m series C round in 2016, investing with Hepalink, life sciences investment firm Malin, Wellcome Trust, Bill & Melinda Gates Foundation, CF Woodford Equity Income Fund and Woodford Patient Capital.
The company’s earlier funding had been supplied by Malin, Woodford Patient Capital Trust, Wellcome Trust and Bill & Melinda Gates Foundation. Its technology is based on research at Wellcome Trust Sanger Institute.
