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The acquisition was completed through the merger of a wholly owned subsidiary of Sanofi with and into Provention Bio.
On April 27, 2023, Sanofi completed its acquisition of Provention Bio, which adds TZIELD (teplizumab-mzwv), a first-in-class therapy in type 1 diabetes treatment, to Sanofi’s core asset portfolio in General Medicines and further drives its strategic shift toward products with a differentiated profile.
“We are excited to finalize our acquisition of Provention Bio, Inc.,” said Olivier Charmeil, executive vice president of General Medicines at Sanofi, in a press release. “This 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.”
FDA approved TZIELD injection on Nov. 17, 2022 to delay the onset of stage 3 type 1 diabetes in adults and pediatric patients eight years and older who currently have stage 2 type 1 diabetes, according to the press release.
The acquisition was completed 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, and Provention Bio continuing as the surviving corporation and becoming an indirect, wholly owned subsidiary of Sanofi.