Sanofi-Aventis to Acquire BiPar in Deal Valued at $500M
Purchase price depends on success achieved with Phase II cancer therapy.!--h2>
Sanofi-aventis signed a binding agreement to acquire BiPar Sciences in a deal worth up to $500 million. The purchase price will depend on milestones achieved by BiPar's lead candidate, BSI-201, a potential first-in-class PARP inhibitor.
BSI-201 is currently in Phase II trials. It is being investigated in metastatic triple negative breast cancer (TNBC), ovarian cancer, and other malignancies. PARP inhibitors reportedly prevent cancer cells from repairing their own DNA and ultimately cause cancer cell death.
"The acquisition of BiPar, one of the pioneers for novel tumor-selective therapies, is a further step in our company's goal to focus on new approaches to strengthen our oncology R&D portfolio," says Christopher A. Viehbacher, CEO of Sanofi. "This acquisition illustrates our strong commitment to oncology to provide patients, physicians, and public health stakeholders with breakthrough medicines addressing unmet medical needs."
BSI-201 is a targeted cancer therapy based on an emerging technique called PARP inhibition, says BiPar. The drug is reportedly being studied in breast and ovarian cancer as well as other malignancies.
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