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The Kiadis board believes that Sanofi will provide financial and resource support to facilitate the Kiadis NK-cell medicines’ development.
Global biopharmaceutical company Sanofi SA (NASDAQ: SNY) has offered to acquire cell-based immunotherapy company Kiadis. The acquisition offer was revealed in a press release by Sanofi on the 2nd of November.
Sanofi Offers to Buy Kiadis
According to the press release, French healthcare giant Sanofi will acquire all of Kiadis share capital at EUR 5.25 per share. In total, the aggregate adjusted equity value would be 308 million euros ($358.7 million). Notably, the press statement said that the deal is subject to “satisfaction of certain customary conditions.”
The global head of research and development at Sanofi John Reed commented on the deal:
“We believe the Kiadis’ off the shelf’ K-NK cell technology platform will have broad application against liquid and solid tumors, and create synergies with Sanofi’s emerging immuno-oncology pipeline, providing opportunities for us to pursue potential best-in-disease approaches.”
Also, the CEO of Kiadis, Arthur Lahr, commented on the deal. Lahr stated that Kiadis’ vision is to provide cell-based medications to people with life-threatening health conditions. According to the CEO, Sanofi’s acquisition of Kiadis will help the French company to achieve its vision.
Referring to the NK-cell platform that Kiadis possessed with the acquisition of Cytosen, Lahr added:
“Sanofi’s offer is a clear testimony to the uniqueness of our NK-cell platform and the rapid success of Kiadis’ transformation.”
Furthermore, Lahr said that the Kiadis board believes that Sanofi will provide financial and resource support to facilitate the Kiadis NK-cell medicines’ development. In addition, the CEO said shareholders would also benefit from the Sanofi-Kiadis deal.
Apart from the shareholders, Lahr also noted that the deal will be an advantage to Kiadis’ employees. He said the employees would enjoy “excellent career opportunities.”
Sanofi Works with GlaxoSmithKline to Produce Covid-19 Vaccine
Sanofi is one of the several companies making efforts to create a vaccine for the persisting coronavirus. In mid-April, Sanofi entered a partnership with British pharma company GlaxoSmithKline plc (NYSE: GSK) to jointly develop an effective vaccine.
At the time of the partnership, Sanofi CEO Paul Hudson noted that combined resources and expertise is needed to work on a working vaccine. GlaxoSmithKline CEO Emma Walmsley added that the collaboration would enable the two companies to bring their resources and capabilities together to accelerate the vaccine creation.
The joint venture said the companies aim to produce millions of doses by the second half of 2021.
In a continual effort to jointly produce a working vaccine, Sanofi and GlaxoSmithKline have begun a clinical trial of their vaccine candidate. On the 3rd of September, Coinspeaker reported that the companies hope to attain the final testing stage for their protein-based vaccine candidate in December.
Already, the companies have secured deals to supply their vaccine candidates to the US and Britain.
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