Sanofi snaps up cancer treatment specialist BiPar
Sanofi-Aventis is to buy US-based BiPar, which it describes as a pioneer in emerging cancer treatments, and represents the latest in a string of deals announced under the French group\'s new chief executive Chris Viehbacher.
Sanofi-Aventis is to buy US-based BiPar, which it describes as a pioneer in emerging cancer treatments, and represents the latest in a string of deals announced under the French group's new chief executive Chris Viehbacher.
Sanofi said the purchase price would depend on milestone payments, potentially worth up to US$500m (Euro 380m), related to BiPar's lead development product BSI-201, currently in Phase II clinical trials. The deal should be completed in the second quarter.
The privately owned Californian biopharmaceutical company specialises in developing novel tumour selective approaches for different types of cancer.
Sanofi said BiPar is a leader in the emerging field of DNA repair using PARP (poly ADP-ribose polymerase) inhibitors. By preventing cancer cells from repairing their own DNA, PARP inhibitors ultimately cause cancer cell death.
BiPar recently announced positive interim safety data from an ongoing Phase II trial of BSI-201, in combination with chemotherapy in patients with metastatic triple negative breast cancer.
Viehbacher said: "The acquisition of BiPar is a further step in our company's goal to focus on new approaches to strengthen our oncology R&D portfolio."
Sanofi recently made a US$659m (€500m) acquisition of Brazil's Medley, the country's third largest pharma and number one generics firm and bought Mexican generics group Laboratories Kendrick.
In February, the company took over Czech generics company Zentiva and is said to be interested in buying Solvay's pharma operations.