Sanofi-aventis to acquire TargeGen

Published: 1-Jul-2010
Research & Development Finance

Developer of treatments for blood disorders


Sanofi-aventis is adding to its oncology product portfolio with the acquisition of TargeGen for up to US$560m.

TargeGen is a privately held biotechnology company based in San Diego, California, US, which develops small molecule kinase inhibitors for the treatment of leukemia, lymphoma, other haematological malignancies and blood disorders.

Sanofi-aventis will make an upfront payment of US$75m. The ultimate purchase price will depend on the achievement of certain future milestones. The transaction is expected to close in the third quarter.

TargeGen's most advanced drug candidate is TG101348, a JAK2 kinase inhibitor for the treatment of myeloproliferative diseases including primary and secondary myelofibrosis (MF) and polycythemia vera (PV), which are bone marrow disorders. There are currently no approved drugs to treat MF or PV.

TG 101348 has completed a multicentre clinical PhaseI/II trial and additional studies are planned during the second half of 2010.

‘Sanofi-aventis brings significant strength and resources to the continued development and potential commercialisation of TG101348,’ said Peter Ulrich, chief executive of TargeGen.

‘The acquisition of TargeGen represents a further significant step to increase our engagement in the field of haematological malignancies,’ added Marc Cluzel, executive vice-president, r&d at Sanofi-aventis.

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