Biotech, cancer, deals
Vulcan-backed BiPar Sold to Sanofi
Luke Timmerman 4/15/09
BiPar Sciences, a Brisbane, CA-based developer of cancer drugs, said today it agreed to be acquired by Paris-based Sanofi-Aventis in a deal that could be worth as much as $500 million if the company’s lead drug candidate reaches certain milestones in development. Paul Allen’s Vulcan Capital led a $13 million Series A round in BiPar in 2004. The company is developing PARP inhibitors, which are thought to interrupt signals that allow cancer cells to rapidly proliferate.
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
