Sanofi : Agrees to Buy Dutch Biopharmaceutical Company for EUR308 Million

By Joshua Kirby

Sanofi SA said Monday that it has agreed to acquire Dutch clinical-stage immunotherapy company Kiadis Pharma NV.

The French pharmaceutical company said it had entered into a definitive agreement to buy all of Kiadis's share capital for a price of EUR5.45 a share via a public offer. The price represents an aggregate adjusted equity value of 308 million euros ($358.7 million), and the deal is subject to certain conditions.

Kiadis develops cell-based immunotherapy products for the treatment of life-threatening diseases, Sanofi said.

"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," John Reed, global head of research and development at Sanofi, said.

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(END) Dow Jones Newswires

11-02-20 0148ET