On December 9, 2019, Sanofi and Synthorx announced that the companies have entered into an agreement under which Sanofi will acquire Synthorx, a clinical-stage biotechnology company focused on prolonging and improving the lives of people suffering from cancer and autoimmune disorders, for $68 per share in cash, which represents an aggregate equity value of approximately $2.5 billion. The transaction was unanimously approved by both the Sanofi and Synthorx boards of directors. Wilson Sonsini has acted as patent counsel for Synthorx from its inception, including patent strategy, counseling, and prosecution. The Wilson Sonsini patent team was responsible for the patent diligence underlying this transaction.

Under the terms of the agreement, Sanofi will commence a cash tender offer to acquire all of the outstanding shares of Synthorx common stock; the $68 per share acquisition price represents a 172 percent premium to Synthorx’s closing price on December 6, 2019. Sanofi plans to finance the transaction with cash on hand and expects to complete the acquisition in the first quarter of 2020.

The Wilson Sonsini team representing Synthorx in the transaction includes Uale Taotafa, Sara Pennebaker, Sean Reed, and Michael Hostetler.

For more information, please see the press release.