Ventyx gets $27 million investment from Sanofi
Shares in San Diego-based inflammatory diseases specialist Ventyx Biosciences (Nasdaq: VTYX) rose 8.7% to $2.50 yesterday as it announced that French pharma major Sanofi (Euronext: SAN) has agreed to make a $27 million strategic investment in the company]. The closing of the transaction is expected to occur on September 23, 2024.
Expressing welcome for the investment, Ventyx chief executive Raju Mohan said: “Sanofi is a global leader in immunological and inflammatory diseases, and we believe this transaction is a recognition that VTX3232 could potentially offer a disease-modifying approach for the treatment of a number of neuroinflammatory conditions with high unmet medical need. We look forward to strengthening our relationship with Sanofi as the VTX3232 clinical programs progress, with data from the PhaseIIa trial in patients with early Parkinson’s disease and data from the Phase II trial in subjects with obesity and additional cardiometabolic risk factors, both expected in 2025.”
Option on VTX3232
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