Pharma giant Sanofi has entered into an acquisition agreement with systemic mastocytosis (SM)-focused biopharma company, Blueprint Medicines.
The USD $9.5bn deal will allow Sanofi access to Blueprint's rare immunology disease therapeutic, Ayvakit, which is approved in the US and EU.
This deal will also significantly expand the company's advanced and early-stage immunology pipeline — including Blueprint's BLU-808.
BLU-808 is a highly selective and potent oral wild-type KIT inhibitor, which has shown potential to treat a range of diseases in the field of immunology.
It works by inhibiting mast cell activation, which is commonly associated with the onset of inflammatory diseases.
Under the terms of the agreement, Blueprint shareholders will receive one non-tradeable contingent value right (CVR), which will entitle the holder to receive two pilestone payments of $2 and $4 per CVR following the achievement of future development and regulatory milestones for BLU-808.
"The proposed acquisition of Blueprint Medicines represents a strategic step forward in our rare and immunology portfolios," noted Sanofi's CEO, Paul Hudson.
"This acquisition is fully aligned with our strategic intent to strengthen our existing therapeutic areas, and it complements recent acquisitions of early-stage medicines in our main field of interest."
"With this agreement, we begin our next chapter with Sanofi, whose exceptional leadership in rare disease and immunology and proven ability to solve medical challenges at scale stand to accelerate our joint mission to bring life-changing medicines to many more patients around the world," concluded Kate Haviland, CEO of Blueprint Medicines.