Sanofi-aventis to acquire BiPar Sciences, a US biopharmaceutical company
Sanofi-aventis announced that it has signed a binding agreement for the acquisition of BiPar Sciences, Inc., a privately held US biopharmaceutical company, developing novel tumorselective approaches for the treatment of different types of cancers.
BiPar is a company in the emerging field of DNA (DeoxyriboNucleic Acid) repair using PARP (Poly ADP-Ribose Polymerase) inhibitors. PARP inhibitors represent a new, targeted approach to treating many types of cancers. By preventing cancer cells from repairing their own DNA, PARP inhibitors ultimately cause cancer cell death.
BiPar’s lead product candidate is BSI-201, a potential first-in-class PARP inhibitor currently being studied in Phase 2 clinical trials in metastatic triple negative breast cancer (TNBC), ovarian cancer and other malignancies.
Under the agreement, the purchase price will depend on the achievement of milestone payments related to the development of BSI-201 which could achieve a maximum of $ 500 M. The closing of the transaction is expected to occur in the 2nd quarter of 2009, subject to the receipt of the FTC clearance.
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