Sanofi-Aventis to acquire biopharmaceutical firm BiPar
15 Apr 2009
Sanofi-Aventis has signed a deal to acquire biopharmaceutical company BiPar Sciences, which specialises in developing novel tumour-selective approaches to treat different types of cancers.
The purchase price will depend on the achievement of milestones relating to BiPar's lead product candidate, BSI-201, and the transaction is expected to close within three months.
BSI-201 is currently in phase-two trials and is indicated for treatment of metastatic triple negative breast cancer, ovarian cancer and other malignancies.
"The acquisition of BiPar, one of the pioneers for novel tumour-selective therapies, is a further step in our company's goal to focus on new approaches to strengthen our oncology research and development portfolio," said Christopher Viehbacher, chief executive of Sanofi-Aventis.
Dr Hoyoung Huh, president and chief executive of BiPar, added that his firm is pleased to be joining the French enterprise, which he described as one of the most successful and innovative global pharmaceutical companies.
The deal marks the latest in series of takeovers by Sanofi-Aventis, which recently acquired Laboratorios Kendrick in Mexico and signed a merger deal with Medley in Brazil.
