Navigation Links
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.

(Logo: http://photos.prnewswire.com/prnh/20030430/TARGEGENLOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20030430/TARGEGENLOGO)

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 presented at the 2009 ASH meetings by academic collaborators of the Company suggest that in addition to the treatment of certain myeloproliferative disorders, TG101348 may also have potential utility in the treatment of certain forms of leukemia, lymphoma, other hematological malignancies and blood disorders.

"Sanofi-aventis brings significant strength and resources to the continued development and potential commercialization of TG101348. With their global focus on oncology and long term commitment to this patient population, we are confidant they will maximize the treatment potential of TG101348 across multiple clinical indications," said Peter G. Ulrich, President, CEO and Co-Founder of TargeGen. "Further, their decision to acquire TargeGen at this time validates the Company's belief that TG101348 has the potential to be the best in class compound in terms of providing meaningful new treatment options for patients with myeloproliferative diseases and certain other hematological malignancies."

Peter J. Solomon Company served as financial advisors to TargeGen relative to this transaction.

www.targegen.com


'/>"/>
SOURCE TargeGen, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Ascenta Therapeutics Licenses Cancer Drug Candidates to sanofi-aventis
2. Sanofi-aventis Initiates 10,000 Patient Study With Multaq(R) in Permanent AF
3. AEterna Zentaris Announces Termination of Agreement with sanofi-aventis U.S. for the Development, Commercialization and Licensing of Cetrorelix in Benign Prostatic Hyperplasia
4. The Foundation for National Institutes of Health Announces Unprecedented Product Donation by sanofi-aventis in the U.S.
5. Sanofi-aventis U.S. Introduces BenzaClin(R) Carekit
6. Sanofi-aventis Announces Second Quarter 2009 Results
7. Sanofi-aventis U.S. Announces Settlement of Medicaid Best Price Investigation
8. Sanofi-aventis U.S. to Acquire Oral Chronic Lymphocytic Leukemia Treatment
9. BioWa Announces License of POTELLIGENT(R) Technology to sanofi-aventis
10. AEterna Zentaris and Sanofi-Aventis Sign a Development, Commercialization and Licensing Agreement for Cetrorelix in Benign Prostatic Hyperplasia
11. RainDance Technologies Signs a Collaboration Agreement with sanofi-aventis and Louis Pasteur University to Launch dScreen Consortium within ALSACE BIOVALLEY cluster
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... Netherlands and LAGUNA HILLS, Calif. ... Institute of Cancer Research, London (ICR) ... MMprofiler™ with SKY92, SkylineDx,s prognostic tool to risk-stratify patients with ... known as MUK nine . The University of ... which is partly funded by Myeloma UK, and ICR will ...
(Date:10/11/2017)... Bay, Florida (PRWEB) , ... October 11, 2017 ... ... and Drug Administration (FDA) has granted orphan drug designation to SBT-100, its novel ... (sdAb) for the treatment of osteosarcoma. SBT-100 is able to cross the cell ...
(Date:10/10/2017)... , ... October 10, 2017 , ... ... Center’s FirstHand program has won a US2020 STEM Mentoring Award. Representatives of the ... for Excellence in Volunteer Experience from US2020. , US2020’s mission is to change ...
(Date:10/10/2017)... Oct. 10, 2017 SomaGenics announced the receipt ... to develop RealSeq®-SC (Single Cell), expected to be the ... RNAs (including microRNAs) from single cells using NGS methods. ... need to accelerate development of approaches to analyze the ... "New techniques for measuring levels of mRNAs in ...
Breaking Biology Technology:
(Date:8/23/2017)... , Aug. 23, 2017  The general public,s help is being enlisted ... bacteria that live in and on the human body –and are believed ... The Microbiome Immunity ... human microbiome, starting with the gut. The project's goal is to help ... credit: IBM ...
(Date:6/14/2017)...  IBM (NYSE: IBM ) is introducing several innovative ... to developing collaboration between startups and global businesses, taking place ... the event, nine startups will showcase the solutions they have ... France is one ... a 30 percent increase in the number of startups created ...
(Date:4/24/2017)... , April 24, 2017 ... and partner with  Identity Strategy Partners, LLP (IdSP) ... "With or without President Trump,s March 6, 2017 ... Terrorist Entry , refugee vetting can be instilled with ... resettlement. (Right now, all refugee applications are suspended ...
Breaking Biology News(10 mins):