Sanofi-Aventis To Acquire Fovea For €370M

Law360, New York (October 1, 2009, 12:59 PM EDT) -- Sanofi-Aventis will acquire Fovea Pharmaceuticals SA for €370 million ($538 million), the companies said Thursday.

The deal includes an immediate up-front payment and subsequent milestone payments related to the development of Fovea's three clinical compounds.

The transaction is expected to close in the fourth quarter of 2009. The deal is subject to antitrust clearance under the Hart-Scott-Rodino Act.

Paris-based Fovea is a privately held biopharmaceutical company created in 2005 that specializes in ocular diseases, with a focus on retinal pathologies. The company has three compounds currently...
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