Sanofi Eyes Breakthrough with Dren Bio's B-cell Program Purchase
Deal News | Mar 20, 2025 | Ropes & Gray
Sanofi, advised by Ropes & Gray, has announced its intention to acquire the bispecific myeloid cell engager program (DR-0201) from Dren Bio. The program aims to address B-cell mediated autoimmune diseases such as lupus, where there is a great need for innovative treatments. The transaction, valued at up to $1.9 billion, involves an upfront payment of $600 million with an additional $1.3 billion contingent on reaching specific developmental and commercialization milestones. Ropes & Gray's team, led by partners specializing in life sciences licensing, M&A, and IP transactions, played a critical role in facilitating this acquisition, which is slated for completion by Q2 2025.
Sectors
- Biotechnology
- Pharmaceuticals
- Legal Services
Geography
- United States – Ropes & Gray, the legal advisor, is based in the U.S., and the transaction involves a U.S.-based biopharmaceutical entity, Dren Bio.
- France – Sanofi, the acquiring company, is headquartered in France, marking this as a cross-border acquisition.
Industry
- Biotechnology – The acquisition pertains to a biopharmaceutical program targeting autoimmune diseases, a key area within the biotechnology sector.
- Pharmaceuticals – Sanofi, a major pharmaceutical company, is expanding its portfolio to include novel treatments for autoimmune diseases.
- Legal Services – Ropes & Gray provided legal advisory services for the acquisition, underscoring the role of legal expertise in complex M&A deals.
Financials
- $600 million – Upfront payment for the acquisition of Dren Bio's DR-0201 program.
- $1.3 billion – Potential future payments based on achieving certain development and launch milestones.
- $1.9 billion – Total potential value of the acquisition deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sanofi | Acquirer | Company | A leading global pharmaceutical company seeking to expand its immunology portfolio. |
| Dren Bio | Target Company | Company | A biotechnology firm focused on developing bispecific antibody-based therapies. |
| Ropes & Gray | Legal Advisor | Company | A leading law firm providing comprehensive advisory services for the acquisition. |
| Abigail Gregor | Life Sciences Licensing Partner | Person | Led the Ropes & Gray team on the licensing aspects of the acquisition. |
| Matt Byron | Mergers & Acquisitions Partner | Person | Key partner in the M&A advisory for the acquisition. |
| Dan Freshman | IP Transaction Associate | Person | Part of the IP advisory team at Ropes & Gray for the acquisition. |
| Scott Pinarchick | Tax Partner | Person | Provided tax-related advice in the acquisition process. |
| Renata Ferrari | Employment & Benefits Partner | Person | Handled employment and benefits issues in the deal. |
| Joshua Talicska | IP Transactions Counsel | Person | Counseled on IP transactions for the acquisition. |
| Alexandra Charron | Mergers & Acquisitions Associate | Person | Assisted in M&A aspects of the acquisition. |
| Giancarlo Lee | IP Transactions Associate | Person | Provided IP transactions support in the acquisition. |