24/7 Market News- Sanofi to make $27 Million Strategic Investment in Ventyx Biosciences

September 23, 2024

DENVER, Colo., Sep 23, 2024 (247marketnews.com)- Ventyx Biosciences (NASDAQ: VTYX) stated that Sanofi (NASDAQ: SNY) is making a $27 million strategic investment in the Company at an as-converted price of $3.8243 per share of common stock, in which Sanofi will purchase 70,601 of the Company’s Series A non-voting convertible preferred stock, with each share of initially convertible into 100 shares of common stock.

Raju Mohan, CEO of Ventyx Biosciences, commented, “Sanofi is a global leader in immunological and inflammatory diseases, and we believe this transaction is a recognition that VTX3232 could potentially offer a disease-modifying approach for the treatment of a number of neuroinflammatory conditions with high unmet medical need. We look forward to strengthening our relationship with Sanofi as the VTX3232 clinical programs progress, with data from the Phase 2a trial in patients with early Parkinson’s disease and data from the Phase 2 trial in subjects with obesity and additional cardiometabolic risk factors, both expected in 2025.”

The equity investment terms include Ventyx Biosciences agreeing to grant Sanofi an exclusive right of first negotiation with respect to certain VTX3232 program rights.

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