Sanofi and Principia Biopharma Inc. (NASDAQ: PRNB), a late-stage biopharmaceutical company focused on developing treatments for immune-mediated diseases, entered into a definitive agreement under which Sanofi will acquire all of the outstanding shares of Principia for $100 per share in cash, which represents an aggregate equity value of approximately $3.68 billion (on a fully diluted basis). The Sanofi and Principia Boards of Directors unanimously approved the transaction.<\/p>\n\n\n\n
\u201cThis acquisition advances our ongoing R&D transformation to accelerate development of the most promising medicines that will address significant patient needs,\u201d <\/em>said Paul Hudson, Sanofi Chief Executive Officer. \u201cThe addition of multiple BTK inhibitors to our pipeline demonstrates our commitment to strategic product acquisitions in our priority therapeutic areas. Full ownership of our brain-penetrant BTK inhibitor \u2018168 removes complexities for this priority development program and simplifies future commercialization.\u201d<\/em><\/p>\n\n\n\n \u201cThe Phase 2b data in relapsing multiple sclerosis showed the strong potential of \u2018168 to address disability and disease progression, and triggered the start of Phase 3 studies across the full spectrum of MS. Through this acquisition, we will be able to expand and accelerate development of BTK inhibitors across multiple indications. Both \u2018168 and rilzabrutinib, have \u2018pipeline in a product\u2019 potential, and we look forward to unlocking their full treatment benefits across an array of diseases,\u201d <\/em>said John Reed, M.D., Ph.D., Global Head of Research & Development at Sanofi.<\/p>\n\n\n\n