Sanofi to divest cancer biotech it bought for $1B, axe 100 staffers in California

Sanofi is set to di­vest a site and as­sets un­der Amu­nix Phar­ma­ceu­ti­cals, an im­muno-on­col­o­gy biotech it ac­quired for $1 bil­lion around three years ago. The com­pa­ny will al­so be lay­ing off 100 work­ers at the site in San Fran­cis­co.

The com­pa­ny has “ac­tive­ly scout­ed for buy­ers to take over re­search, CMC and clin­i­cal ac­tiv­i­ties,” a Sanofi spokesper­son told End­points News. “We have made progress and are in ac­tive dis­cus­sions with po­ten­tial part­ners. We ex­pect to make fi­nal de­ter­mi­na­tions in the next few months.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.