Sanofi has announced a definitive agreement to acquire Vigil Neuroscience, a clinical-stage biotechnology company focused on neurodegenerative diseases, for approximately $470 million in cash. Vigil shareholders will receive $8.00 per share at closing, along with a non-tradeable contingent value right (CVR) of $2.00 per share, payable upon the first commercial sale of VG-3927, Vigil's lead drug candidate. The total deal value, including the CVR, could reach about $600 million. The $8.00 per share offer represents a 246% premium over Vigil's $2.31 closing price prior to the announcement. Vigil debuted at $14 per share in its 2022 IPO. Centerview Partners is acting as financial advisor to Vigil on the transaction. VG-3927 is an oral small molecule agonist of TREM2, a receptor found on microglia, and is being developed as a treatment for Alzheimer's disease. The drug has completed early-stage clinical studies and is expected to enter Phase 2 trials. Activating TREM2 is intended to enhance the neuroprotective function of microglia, which may help address neurodegeneration associated with Alzheimer's. Sanofi previously made a $40 million equity investment in Vigil in June 2024, securing an exclusive right of first negotiation for VG-3927. The acquisition will not include Vigil's monoclonal antibody program, VGL101 (iluzanebart), which will return to Amgen, the original licensor. The transaction, expected to close in the third quarter of 2025, is subject to approval by a majority of Vigil's outstanding shareholders and other customary closing conditions, including antitrust clearance. Key shareholders, including Atlas Venture, Bruce Booth, and Vigil's CEO Ivana Magovčević-Liebisch, representing about 16% of Vigil's shares, have agreed to support the deal. Vigil had previously disclosed financial concerns about its ability to continue operations. Sanofi stated that the deal will not impact its 2025 financial outlook.
Sanofi’s Neuro Pipeline Expands to Alzheimer’s With $470M Vigil Neuroscience Acquisition https://t.co/uinwyYelrN
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Encourages MicroStrategy Incorporated (MSTR) Investors To Inquire About Securities Fraud Class Action https://t.co/SQcFIf98e9 https://t.co/PRHpsFLBAQ
Asymmetric arbs: $LNSR. HSR period expired last night. CVR still available for free. Alcon buying for $14 cash + $2.75 CVR. Stock at $14. $VIGL - new deal. Sanofi buying for $8 cash + $2 CVR. Can't see any antitrust risk here. Stock at $7.9 so CVR is free