Sanofi-aventis to acquire TargeGen Inc.

Development of oral potent oncology medicines for the treatment of hematological malignancies

02-Jul-2010 - France

Sanofi-aventis announced that it has signed an agreement for the acquisition of TargeGen Inc., a privately held US biopharmaceutical company developing small molecule kinase inhibitors for the treatment of certain forms of leukemia, lymphoma and other hematological malignancies and blood disorders.

Under the terms of the agreement, sanofi-aventis will make an upfront payment of US $ 75 million upon closing of the transaction. Further milestones payments will occur at different stages of development of TargeGen lead product TG 101348. The total amount of all payments, including the upfront payment, could reach US $ 560 million. The closing of the transaction is expected to occur in the 3rd quarter of 2010 and is subject to customary consent conditions.

"The acquisition of TargeGen represents a further significant step to increase our engagement in the field of hematological malignancies“, declared Marc Cluzel, M.D., Ph.D, Executive Vice-President, Research & Development, sanofi-aventis. “In addition, this acquisition is another example of our strong commitment to oncology to provide patients, physicians and public health stakeholders with breakthrough medicines addressing unmet medical needs”.

TG 101348, is a potent inhibitor of Janus kinase 2 (JAK-2). It is an oral agent and is being developed for the treatment of patients with myeloproliferative diseases including myelofibrosis (MF). MF is a chronic and progressive disorder in which there is a proliferation of certain cells of the bone marrow resulting in bone marrow fibrosis and is associated with activating mutations of JAK-2. TG 101348 has completed a multicenter clinical Phase 1/2 trial in patients with myelofibrosis. Additional clinical studies are planned to start in the second half of 2010.

https://www.bionity.com/en/news/119628/sanofi-aventis-to-acquire-targegen-inc.html