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Business

Sanofi Will Acquire Biotech Firm TargeGen

by Michael McCoy
July 5, 2010 | A version of this story appeared in Volume 88, Issue 27
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Sanofi-Aventis is buying TargeGen, a San Diego-based biotech firm developing small-molecule kinase inhibitors for the treatment of leukemia, lymphoma, and other hematological malignancies. The French company will pay $75 million upon closing the deal. Total payments to TargeGen’s owners could reach $560 million depending on the development of TG 101348, TargeGen’s lead product. TG 101348 inhibits Janus kinase 2, which is associated with blood diseases such as myelofibrosis.

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