A Cambridge biopharmaceutical company has been acquired in a deal potentially worth £1 billion by healthcare giant Sanofi.
Kymab is developing fully human monoclonal antibodies, with the aim of treating a wide variety of immune-mediated diseases and inflammatory disorders.
Its technology is at the clinical stage and has the potential to regulate the immune system without suppressing it.
Paris-headquartered Sanofi will acquire Kymab for an upfront payment of approximately $1.1bn and up to $350 million upon achievement of certain milestones.
“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,” said Sanofi CEO Paul Hudson.
Simon Sturge, Kymab CEO, added: “The agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi.
“With its significant global resources, we believe Sanofi is the perfect partner to progress Kymab’s pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.”