Genetics

Eying Cancer Combos, Sanofi to Splash Out $2.5B on San Diego's Synthorx

2 monthes ago   |   By Xconomy

Synthorx is working to design new cytokine therapies for cancer using an “extended” genetic alphabet that could help avoid the shortcomings associated with earlier versions. Now French biopharma Sanofi has struck a deal to add the startup to its oncology business in a transaction that values the company at about $2.5 billion. The move is the first acquisition the company has announced since CEO Paul Hudson joined the Paris-headquartered company Sept. 1. Sanofi agreed to pay $68 per outstanding share of Synthorx, a 172 percent premium over its Friday closing stock price of $25.03 apiece...
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