Wednesday, June 30, 2010
TargeGen Acquired By Sanofi-aventis
San Diego-based TargeGen, a firm developing small molecule kinase inhibitors for the treatment of myelofibrosis (MF) and polycythemia vera (PV), has been acquired by Sanofi-aventis, in a deal worth as much as $560M, the firm said Wednesday. According to TargeGen, the deal's purchase price depends on the achievement of certain future milestones events. TargeGen's products are also potentially useful in treating certain forms of leukemia, lymphoma, other hematological malignancies and blood disorders. TargeGen had raised over $113M in venture funding from A.M. Pappas & Associates, BB Biotech Ventures, CDIB Ventures, CDP Capital Technology Ventures, Chicago Growth Partners, CTI Life Sciences Fund, Enterprise Partners, Forward Ventures, H&Q Investments, Innovis Investments, Pappas Ventures, VantagePoint Venture Partners, and William Blair Capital Partners. The firm was advised by Peter J. Solomon Company in the deal.