Press Release

Principia Biopharma Agrees to Sell to Sanofi for Approximately $3.68 Billion

August 18, 2020

San Francisco – August 18, 2020 – Cooley advised Principia Biopharma on its agreement to sell all outstanding shares to Sanofi for $100 per share, representing an aggregate equity value of approximately $3.68 billion. Jamie Leigh, Ben Beerle, David Peinsipp and Anne Lieberman led the Cooley team advising Principia. 

Principia is a late-stage biopharmaceutical company focused on developing treatments for immune-mediated diseases. Principia’s Bruton tyrosine (BTK) inhibitor franchise is based on its proprietary Tailored Covalency platform that has generated potential best-in-class clinical candidates. BTK is present in the signaling pathways of key innate and adaptive cell types of the immune system. Being able to block or disrupt these signaling processes can help in stopping inflammation and tissue destruction related to autoimmune diseases and target some of the underlying pathophysiology. 

“Principia’s successful design and development of a whole portfolio of BTK inhibitors for immunology is aimed to transform the treatment for patients with immune-mediated diseases,” Martin Babler, president and CEO at Principia Biopharma, said in a news release. “By combining with Sanofi, we will bring significant resources to expand and accelerate the potential benefits of these therapies.” 

Principia’s strategy is to build and advance a pipeline of best-in-class drug candidates with significant therapeutic benefits, limit unintended side effects, improve quality of life and, over time, modify the course of disease.

Cooley has advised Principia on a number of corporate transactions, including its $122 million initial public offering in 2018 and its $227 million follow-on offering in 2019. 

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 1,100+ lawyers across 16 offices in the United States, Asia and Europe.


This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.