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Sanofi has agreed to acquire US-based clinical-stage biotechnology company Synthorx for about $2.5bn in an all-cash deal in a move to strengthen its immuno-oncology (IO) pipeline.
French pharmaceutical company Sanofi has agreed to acquire all outstanding shares of biotechnology firm Synthorx for a total consideration of $2.5bn, or $68 per share in cash.
Moderna will be getting all the headlines for its monster $500 million IPO attempt this week, but that shouldn’t overshadow the major $100 million IPO that early-stage Synthorx has just announced, and what this says about the biotech market.