Sanofi agrees to acquire BiPar to bolster late-stage oncology drug pipeline
French drug major Sanofi-Aventis has signed a binding agreement for the acquisition of BiPar Sciences, a privately-held US biopharmaceutical company, developing novel tumor-selective approaches for the treatment of different types of cancers.
The purchase price will depend on the achievement of milestone payments related to the development of BiPar's lead drug candidate, BSI-201, and could achieve a maxi-mum of $500.0 million.
The closing of the transaction is expected to occur in the second quarter, subject to clearance from the US Federal Trade Commission.
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