(RTTNews) - Sanofi (SNY), a French pharmaceutical and healthcare company, announced on Thursday that it has entered into a definitive agreement to acquire Dren Bio, Inc.'s DR-0201, a targeted bispecific myeloid cell engager. The consideration involves an upfront of $600 million and a milestone payment of $1.3 billion, to be paid using the company's cash resources.
Sanofi believes this deal could lead to the company becoming a leading immunology company.
The transaction is expected to close in the second quarter of 2025.
After the deal is complete, Dren Bio will continue working on its own to develop antibody therapeutics that target and eliminate harmful cells and disease-causing agents.
The clinical-stage biopharmaceutical company's DR-0201 has shown B-cell depletion in pre-clinical and early clinical studies. The MCE is a potential CD20-directed bispecific antibody that targets and engages specific tissue-resident and trafficking myeloid cells to induce deep B-cell depletion via targeted phagocytosis.
Wednesday, Sanofi's stock had closed at $58.60, 0.86% lesser on the Nasdaq. In the after-market hours, the stock traded 1.01 lesser before ending the trade at $58.01.
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