U.S. law firms Weil, Gotshal & Manges and Goodwin are taking lead advisory roles on the $1.45 billion acquisition of Cambridge-based biotech firm Kymab by French pharma giant Sanofi.
Under the deal terms, Sanofi will pay $1.1 billion upfront and up to $350 million upon achievement of certain milestones, according to an announcement by the firms on Monday.
Founded in 2010, Kymab is a clinical-stage biopharmaceutical company which focuses on the development of antibody drugs to treat immune-mediated diseases.
The deal includes the acquisition of full global rights to KY1005, a novel drug treatment for eczema.
Goodwin is acting for Kymab on the deal and the team is being led by technology and life sciences partners David Mardle and Malcolm Bates.
Meanwhile, Weil is assisting Sanofi on the transaction, fielding a team led by the firm’s corporate chairman Michael Aiello in New York, alongside London managing partner Michael Francies.
Weil has a long-standing relationship with Sanofi. The firm has advised on two previous multi-billion dollar deals for the firm under its current CEO Paul Hudson, who joined in September 2019.
The firm previously advised on the $2.5 billion and $3.68 billion of U.S. biotech firms Synthorx and Principia Biopharma.