Tuesday, March 14, 2023
Sanofi and Provention Bio entered into an agreement under which Sanofi has agreed to acquire Provention Bio, for $25.00 per share in cash, representing an equity value of approximately $2.9 billion.
The acquisition of Provention Bio builds on Sanofi’s mission delivers best- and first-in-class medicines and benefit people. By coupling Provention Bio’s transformative innovation with Sanofi’s expertise, aims to bring life-changing benefits to people at risk of developing Stage 3 type 1 diabetes.
The acquisition is a strategic fit for Sanofi at the intersection of the company’s growth in immune-mediated diseases and disease-modifying therapies in areas of high unmet need, and its expertise in diabetes. Sanofi will continue to utilise its capabilities in diabetes to maximise TZIELD’s potential as a transformative therapy globally and in the U.S., aiming to delay the onset of Stage 3 type 1 diabetes for some of the approximately 65,000 people diagnosed every year1.
TZIELD (teplizumab-mzwv) was approved in the U.S. last year as the first and only therapy to delay the onset of Stage 3 type 1 diabetes (T1D) in adults and paediatric patients aged 8 years and older with Stage 2 T1D.