Malin to make up to $145m from sale of Kymab to Sanofi Irish life sciences company holds 10% stake in immunotherapy firm
Mon, Jan 11, 2021, 09:53
Irish life sciences investment group Malin is set to net up to about $145 million (€120 million) from the sale of British immunotherapy firm Kymab to French drug maker Sanofi.
The deal, which will see Sanofi pay $1.1 billion up front, will give it full rights to Kymab’s KY1005, an antibody therapy viewed as having the potential to treat a wide range of inflammatory disorders and immune-related diseases. KY1005 passed a mid-stage Phase IIa clinical trial in August.
The deal price could increase by $350 million based on reaching certain milestones, Sanofi said on Monday. Its shares were little changed in early trading.
French drugmaker Sanofi has agreed to buy British immunotherapy firm Kymab for up to $1.45 billion, the latest in a string of deals as it belatedly expands in a fast-growing medical area. . | January 16, 2021