Sanofi Acquires Provention Bio
Today, Sanofi announced they have completed their acquisition of Provention Bio, the manufacturer of Tzield (teplizumab-mzwv), for $25 per share in cash.
Tzield is the first and only FDA-approved disease-modifying therapy to delay type 1 diabetes (T1D) onset in people at-risk for developing the disease.
The acquisition of Provention Bio by Sanofi brings the first T1D disease-modifying therapy available in the U.S. into the portfolio of a global leading pharmaceutical company, representing a significant endorsement of the potential of these types of therapies and, we hope, the opportunity to bring this life-changing therapy and others in the pipeline to more people faster.
“JDRF is thrilled to see this deal finalized,” said JDRF CEO Aaron J. Kowalski, Ph.D. “Sanofi has global reach and extensive diabetes experience. They have the resources to ensure as many people as possible can benefit from Tzield and see a delay in the onset of T1D.”
JDRF has had a hand in the development of teplizumab from nearly the beginning. This includes supporting early-stage research in the 1980s, funding clinical trials, facilitating regulatory pathways, the JDRF T1D Fund strategically investing in Provention Bio—which brought the company into T1D for the first time—and advancing commercial development.