Sanofi betting $1 billion to expand immuno-oncology pipeline, with buy of Amunix

Clearly French pharma major Sanofi’s (Euronext: SAN) appetite for M&A has not been satisfied yet, as the company today announced its sixth acquisition this year.

Sanofi has entered into an agreement to acquire Amunix Pharmaceuticals, a US immuno-oncology company leveraging its proprietary, clinically validated XTEN and innovative universal protease-releasable masking technology platform, Pro-XTEN, to discover and develop transformative T-cell engagers (TCE) and cytokine therapies for patients with cancer. Amunix’ pipeline, which includes lead candidate, AMX-818, a masked HER2-directed TCE, offers a strong strategic fit with Sanofi’s focus on developing potentially transformative cancer therapies in immuno-oncology.

Under the terms of the agreement, Sanofi will acquire Amunix for an upfront payment of approximately $1 billion and up to $225 million on the achievement of certain future development milestones. The acquisition supports Sanofi’s efforts to accelerate and expand its contributions to innovative medicines for oncology patients, with around 20 molecules currently in development, the French firm said.