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Sanofi-aventis to Acquire TargeGen, Inc.
Date:6/30/2010

SAN DIEGO, June 30 /PRNewswire/ -- TargeGen, Inc., a privately held biotechnology company focused on the development of small molecule kinase inhibitors today announced that the Company has agreed to be acquired by sanofi-aventis (EURONEXT: SAN; NYSE: SNY). Under the agreement, the ultimate purchase price will depend on the achievement of certain future milestones events and will total $560M if such milestones are fully realized. The closing of the transaction is expected to occur in the 3rd quarter of 2010.

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Formed in 2001, TargeGen's most advanced drug candidate is TG101348, an internally discovered, oral, potent, and highly selective JAK2 kinase inhibitor being developed for the treatment of patients with myeloproliferative diseases including primary and secondary myelofibrosis (MF) and polycythemia vera (PV). There are currently no approved drugs to treat MF or PV. Preliminary data from a 59 patient trial involving the treatment of MF patients with TG101348 were presented at the American Society of Hematology (ASH) Conference in New Orleans in December 2009. Other pre-clinical data prese
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SOURCE TargeGen, Inc.
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