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Sanofi-Aventis to buy U.S.-based BiPar Sciences

April 15, 2009
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Sanofi-Aventis SA has agreed to pay up to $500 million to buy California-based BiPar Sciences in a move to strengthen its research and development in cancer treatments, as reported by the Associated Press. BiPar Sciences, based in Brisbane, California, is focused on research into a new cancer treatment that blocks tumor cells from repairing their own DNA, causing the cancer cells to die, Sanofi-Aventis said in a statement. They also said the final price paid for BiPar Sciences will depend on its achieving targets related to the development of the new treatment, known as BSI-201. BiPar is owned by private capital firms including, Domain Associates, Canaan Partners and Vulcan Capital, according to the company''s web site. Other major investors in the company include Polytechnos, Quantum Technology Partners and Lighthouse Capital Partners. The deal is the latest in a string of recent purchases Sanofi-Aventis has made around the world since the arrival last December of its new chief executive, Chris Viehbacher. This month alone, Sanofi-Aventis has agreed to buy Sao Paulo-based generic drug maker Medley, Brazil''s third-largest pharmaceutical company, and Laboratorios Kendrick, a Mexican generic drug maker with annual sales of around euro26 million. Viehbacher has said he aims to turn Sanofi-Aventis into "a diversified global leader in health care" and that he would look for small to medium-sized acquisitions as one way of acheiving this. In February the company named Laurence Debroux to the newly created position of Chief Strategic Officer to lead Sanofi-Aventis'' hunt for acquisitions.

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