The French Pharmaceutical giant, Sanofi, has announced that they will acquire Amunix Pharma for about $1 Billion.
Amunix is a US-based biotech industry. They developed a cancer therapy that used the body’s immune system. The treatment is based on cytokines.
Cytokines are small proteins that control the growth and activity of other immune systems and blood cells, especially T-cells. They impact anti-cancer activity by sending signals that facilitate the killing of cancerous cells.
Amunix Pharma developed AMX-818, a drug candidate that will undergo clinical trials from next year.
In a statement by the Sanofi representative, “Sanofi will acquire Amunix for an upfront payment of approximately $1 billion (890 million euros) and up to $225 million upon achievement of certain future development”
The acquisition will be the third acquisition in a series of deals by Sanofi. They have purchased two US biotech companies, Kadmon Holdings for $1.9 billion, and Translate Bio for $3.2 billion this year.
They are also working on the Covid-19 booster vaccine together with GlaxoSmithKline.