Sanofi is set to acquire diabetes therapy maker Provention Bio for $2.9B.
Provention is based in New Jersey.
- With the acquisition of Provention Bio, Sanofi will add therapies such as TZIELD to its portfolio.
- TZIELD is the only U.S.-approved therapy that delays the onset of Stage 3 type 1 diabetes.
- Patients
diagnosed with this condition are at risk of life-threatening
complications from diabetes and need lifelong insulin injections.
- The company is also developing therapies for autoimmune diseases such as celiac disease and lupus.
- The publically traded company was created in 2004 after merging in 1999 with Synthélabo.
- Sanofi is based in France.
