Genentech Buys Tanox for $919 Million
Genentech (South San Francisco, CA, www.gene.com) announced on November 9 that it will acquire Tanox, Inc. (Houston, TX, www.tanox.com), a biotechnology company specializing in the discovery and development of biotherapeutics based on monoclonal antibody technology.
Genentech (South San Francisco, CA, www.gene.com) announced on November 9 that it will acquire Tanox, Inc. (Houston, TX, www.tanox.com), a biotechnology company specializing in the discovery and development of biotherapeutics based on monoclonal antibody technology. Genentech will pay $20 a share for Tanox’s stock, for a total cash value of approximately $919 million.
Genentech and Tanox have been working together since 1996, in collaboration with Novartis, to develop and commercialize “Xolair,” an anti-IgE monoclonal antibody approved by FDA in 2003 to treat allergic asthma. By acquiring Tanox, Genentech will improve its financial results by eliminating the royalty it currently pays to Tanox and by obtaining Novartis’s profit share and royalty payments to Tanox.
Genentech will also acquire Tanox’s pipeline. Tanox’s lead investigational therapy, TNX-355, is a viral-entry inhibitor antibody to treat HIV/AIDS. TNX-355 has shown significant antiviral activity in Phase 2 clinical trials.
The Solution Lies with SOLBIOTE™: Achieving Sustainability, a Growing Focus in Biopharma
October 28th 2024The nexus between biopharmaceuticals and sustainability is seemingly far apart, however, it is increasingly recognized as an inevitable challenge. It is encouraged to take a sustainable approach to reducing the environmental impact of the production and supply of medicines while improving people's health; delivering the well-being of people and the planet. Yosuke Shimojo (Technical Value Support Section Manager, Nagase Viita) will unveil how SOLBIOTE™, a portfolio of injectable-grade saccharide excipients, would be a key for the biopharmaceutical development and achieving sustainability for a better future of the industry.
