Sanofi offers to acquire Kiadis for €308 million

Transaction highlights

  • Kiadis and Sanofi have reached conditional agreement on a recommended all-cash public offer (the “Offer“) by Sanofi for Kiadis of EUR 5.45 in cash (cum dividend) (the “Offer Price“) for each issued and outstanding ordinary share in the capital of Kiadis (the “Shares“) representing an aggregate adjusted equity value of EUR 308 million1
  • The Offer Price represents a premium of 272% over the closing price on 30 October 2020, a premium of approximately 247% over the 30 trading days VWAP and a premium of approximately 200% over the 90 trading days VWAP
  • Kiadis’ proprietary next generation NK-cell technology platform and pipeline complements Sanofi’s existing therapeutic expertise
  • Sanofi’s infrastructure and capabilities will be leveraged to advance the development of Kiadis’ pipeline
  • Kiadis’ Boards unanimously support and recommend the Offer and believe the Offer is a fair reflection of the Kiadis’ potential, given the risk/reward typical to a biotech company and the capital required to execute its business plan; additionally they believe that the Transaction is in the best interests of Kiadis, the sustainable success of its business, its shareholders, patients, employees, business partners and other stakeholders
  • Funds managed by Life Sciences Partners have irrevocably committed to Sanofi to support the Offer and tender their 18.3%2 shareholding in the Offer
  • The Offer is subject to certain customary conditions, including obtaining required competition clearance, and is expected to complete in the first half of 2021
  • Kiadis to hold conference call for investors and analysts at 13:00 CET today

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