Sanofi is to acquire all outstanding ordinary shares of a biopharmaceutical company that is currently focused on the discovery and development of Nanobodies, Ablynx.
Acquisition
The transaction, which has been unanimously approved by both board of directors, will represent an aggregate equity value of about €3.9 billion — €45 in cash per Ablynx share.
“With Ablynx, we continue to advance the strategic transformation of our research and development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders,” explained Sanofi's chief executive officer, Olivier Brandicourt. “This acquisition builds on a successful existing partnership. We are also pleased to reaffirm our commitment to Belgium, where we have invested significantly over the years in our state-of-the-art biologics manufacturing facility in Geel. We intend to maintain and support the Ablynx science center in Ghent.”
“Since our founding in 2001, our team has been focused on unlocking the power of our Nanobody technology for patients,” added Ablynx's chief executive officer, Edwin Moses. “The results of our work are validated by clinical data. As we look ahead, we believe Sanofi's global infrastructure, commitment to innovation and commercial capabilities will accelerate our ability to deliver our pipeline. Our Board of Directors feels strongly that this transaction represents compelling value for shareholders and maximizes the potential of our pipeline to the benefit of all stakeholders.”