Sanofi completes acquisition of prophylaxis Bio, Inc.

Paris, April 27th 2023. Sanofi today announced the conclusion of its acquireIon from prophylaxis Bio, Inc. (“Provention Organic”). The acquisition adds TZIELD (teplizumab-mzwv), an innovative, fully proprietary, first-in-class therapeutic for type 1 diabetes, to Sanofi’s core general medicines portfolio and further drives the strategic shift towards products with a differentiated profile Ahead.

Olivier Charmeil
Executive Vice President, General Medicine, Sanofi
“We are pleased to complete our acquisitionIon from prophylaxis Bio, Inc. The The strategic fit for Sanofi lies at the intersection of our growth in immune-mediated diseases and disease-modifying therapies in areas of high unmet need.“

On November 17, 2022, the U.S. Food and Drug Administration approved the TZIELD injection to delay the onset of stage 3 type 1 diabetes in adults and pediatric patients 8 years and older who currently have stage 3 type 1 diabetes 2 suffer.

The tender offer for all outstanding common shares of Provention Bio expired one minute after 11:59 p.m. Eastern Time on Wednesday, April 26, 2023. The minimum offer condition and all other terms of the offer were satisfied and on April 27, 2023 Sanofi accepted payment and will promptly pay all shares validly tendered and not validly withdrawn.

Upon acceptance of the offered shares, Sanofi completed the acquisition of Provention Bio through the merger of a wholly owned subsidiary of Sanofi with and into Provention Bio pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. Provention Bio remains the surviving company and becomes an indirect company , wholly owned subsidiary of Sanofi.

In connection with the merger, all Provention Bio shares not validly tendered in the tender offer have been converted into the right to receive the same $25.00 per share in cash with no interest thereon and less any withholding taxes, which.. .