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Sanofi-Aventis to Acquire U.S. Biopharma Firm

3:27 AM MDT | June 30, 2010 | Deepti Ramesh

Sanofi-Aventis (Paris) says it has signed an agreement to acquire TargeGen (San Diego, CA), a privately held biopharmaceutical company developing small molecule kinase inhibitors for the treatment of certain forms of leukemia, lymphoma and other hematological malignancies and blood disorders. Sanofi-Aventis will make an upfront payment of $75 million upon closing of the transaction, and further milestones payments at different stages of development of TargeGen lead product TG 101348. The total payments, including the upfront payment, could reach $560 million. The...

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