Genzyme to Acquire SangStat for $600 Million
By Biotechdaily staff writers
Posted on 13 Aug 2003
In a move that will give the company a growing product and a strong pipeline, Genzyme Corp. (Cambridge, MA, USA) has agreed to acquire SangStat Medical Corp. (Fremont, CA, USA for about US$600 million in cash.Posted on 13 Aug 2003
SangStat's lead product, antithymocyte globulin (Thymoglobulin), is used to treat acute rejection in patients with a kidney transplant. The drug suppresses certain types of cells responsible for acute organ rejection, and studies have shown that it may reverse a rejection episode. SangStat's pipeline, which includes an anti-inflammatory peptide, is complementary to Genzyme's work in immune-mediated diseases such as scleroderma, multiple sclerosis, and pulmonary fibrosis. Among the products under development at Genzyme are a monoclonal antibody for treating diffuse systemic sclerosis and a small molecule for multiple sclerosis, both of which are also being investigated for use in organ transplantation.
"This is a strong strategic fit for Genzyme, which adds a growing product, a strong pipeline, and a skilled team that nicely complements our ongoing programs in the high-potential area of immune-mediated diseases,” said Henri A. Termeer, chairman and CEO of Genzyme Corp.
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