France-based Sanofi has agreed to acquire United States-based Synthorx, a company focused on developing therapies for cancer and autoimmune disorders, in order to strengthen its immuno-oncology pipeline, it was reported yesterday.

The deal is valued at USD2.5bn in cash. Sanofi is offering to purchase the company at USD68 per share.

The French company is likely to complete the transaction in the first quarter of 2020, which will be subject to the satisfaction or waiver of customary closing conditions.

THOR-707, Synthorx's lead immuno-oncology product candidate, is currently in clinical development in multiple solid tumour types. The interleukin-2 (IL-2) variant is being assessed as a single agent and also in combination with immune checkpoint inhibitors. Sanofi believes that THOR-707 can potentially become the best IL-2 therapeutic for the treatment of solid tumours and deliver improved pharmacology, therapeutic superiority and also less frequent dosing when compared to other IL-2 compounds.