Press Release: Hart-Scott-Rodino waiting period expires for Sanofi’s acquisition of Provention Bio, Inc.
The U.S. antitrust watchdog is taking more time to review the proposed combination of Sanofi and Provention Bio, two diabetes drug developers. Meanwhile, all eyes in biopharma are on the merger between Pfizer and Seagen.
Paris and Red Bank, N.J. March 13, 2023 Sanofi and Provention Bio, Inc., a U.S.-based, publicly traded biopharmaceutical company focused on intercepting and preventing immune-mediated diseases including type 1 diabetes (T1D), have entered into an agreement under which Sanofi has agreed to acquire Provention Bio, Inc., for $25.00 per share in cash, representing an equity value of approximately $2.9 billion.
RED BANK, N.J., March 13, 2023 /PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated disease, today announced it has cancelled the release of its fourth quarter and full year financial results for the period ended December 31, 2022 due to the announcement earlier today that Provention has entered into a definitive agreement to be acquired by Sanofi, Provention's U.S. TZIELD co-promotion partner, subject to customary regulatory and other closing conditions. In addition, Provention will no longer hold its fourth quarter and full year results conference call that had been scheduled for 8:00 am E.T. Thursday, March 16, 2023. However, Provention will file its annual report on Form 10-K in compliance with the applicable Securities Exchange Commission deadline of March 31, 2023..
Provention Bio, Inc., a biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, completed the $35 million equity investment from Sanofi US under the previously announced Co-Promotion Agreement and Securities Purchase Agreement.
RED BANK, N.J., Feb. 8, 2023 /PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, today announced that management will participate in a fireside chat presentation at the SVB Securities Global Biopharma Conference on Wednesday, February 15th, 2023 at 11:20am EST.