French pharmaceutical company Sanofi has agreed to acquire US-based Blueprint Medicines for about $9.5bn to enhance its portfolio in rare immunological diseases.
The acquisition includes an early-stage pipeline in immunology, with a focus on systemic mastocytosis (SM) and other KIT-driven diseases.
Under the acquisition terms, Sanofi will purchase Blueprint shares at $129 per share in cash, representing an equity value of up to $9.1bn.
Blueprint will receive one non-tradeable contingent value right (CVR) per share, and milestone payments of $2 and $4 for future achievements related to BLU-808.
The transaction’s total equity value, including potential CVR payments, becomes up to $9.5bn on a fully diluted basis.
The completion of the tender offer is contingent upon customary closing conditions, including the tender of a majority of Blueprint’s common stock and necessary regulatory approvals.
Sanofi CEO Paul Hudson said: “The proposed acquisition of Blueprint Medicines represents a strategic step forward in our rare and immunology portfolios.
“It enhances our pipeline and accelerates our transformation into the world’s leading immunology company.
“This acquisition is fully aligned with our strategic intent to strengthen our existing therapeutic areas, to bring relevant and differentiated medicines to patients and to secure attractive returns to our shareholders.”
The acquisition includes Ayvakit/Ayvakyt (avapritinib), which has been approved in the US and the EU to treat advanced and indolent systemic mastocytosis (ASM & ISM).
Ayvakit/Ayvakyt works by inhibiting activated KIT and PDGFRA mutant kinases.
The drug has achieved net revenues of $479m in the last year and nearly $150m in the first quarter this year, which represents over 60% growth year-on-year.
Sanofi will also acquire elenestinib, a next-generation KIT D816V inhibitor, and BLU-808, a selective oral wild-type KIT inhibitor.
Elenestinib is currently under evaluation in the HARBOR Phase 2/3 study, assessing its efficacy and safety in patients with ISM and smouldering SM.
Blueprint’s established presence among allergists, dermatologists, and immunologists is expected to support Sanofi’s growing immunology pipeline.
Sanofi said the acquisition aligns with its strategy to reinforce its position in the immunology sector using Blueprint’s expertise in mast cell biology and its promising drug pipeline.
Blueprint Medicines CEO Kate Haviland said: “Since our founding, Blueprint Medicines has worked at the intersection of scientific innovation and operational excellence.
“We have translated our unique scientific understanding of mast cell biology into a portfolio of important therapies, including Ayvakit – the first and only medicine approved to treat the root cause of systemic mastocytosis – and worked collaboratively with communities to improve standards of care and patient outcomes.
“With this agreement, we begin our next chapter with Sanofi, whose exceptional leadership in rare disease and immunology and proven ability to solve medical challenges at scale stand to accelerate our joint mission to bring life-changing medicines to many more patients around the world.”
Last month, Sanofi agreed to acquire Vigil Neuroscience, a clinical-stage biotechnology company dedicated to developing therapies for neurodegenerative diseases.
