GlobeNewswire Inc | Dec 20, 2021 11:30PM EST

December 21, 2021

Sanofi to acquireAmunix immuno-oncology pipeline with next generation Conditionally Activated Biologics

-- Adds promising pipeline of T-cell engagers and cytokine therapies with lead candidate AMX-818 expected to enter the clinic in early 2022 -- Provides access to Amunix Pro-XTENTM, XPAT, and XPACTM technology, complementary to Sanofis existing R&D platforms

PARISDecember 21,2021 Sanofi announced today that it has entered into an agreement to acquireAmunix Pharmaceuticals, Inc., an immuno-oncology company leveraging its proprietary, clinically validatedXTEN and innovative universal protease-releasable masking technology platform, Pro-XTENTM, to discover and develop transformative T-cellengagers (TCE) and cytokine therapies for patients with cancer. Amunixs pipeline, which includes lead candidate, AMX-818, a masked HER2-directed TCE, offers a strong strategic fit with Sanofis focus on developing potentially transformative cancer therapies in immuno-oncology. Under the terms of the agreement, Sanofi will acquire Amunix for an upfront payment of approximately $1 billion and up to $225 million upon achievement of certain future development milestones. The acquisition supports Sanofis efforts to accelerate and expand its contributions to innovative medicines for oncology patients, with approximately 20 molecules currently in development.

This acquisition demonstrates our ongoing commitment toinvesting inpromising research and discovery platforms, said John Reed, M.D., Ph.D., Global Head of Research & Development, Sanofi. The Amunix technology platform utilizes a next generation smart biologics approach to precisely tailor-deliver medicines to become active only in tumor tissues while sparing normal tissues, thus bringingthe promise of more effective and safertreatment options for cancerpatients.We are excited to rapidly advance Amunixspromising pipeline and to combine their innovative candidate medicines with complementary molecules in Sanofis immuno-oncology portfolio.

Amunixs proprietary XTEN masks and cleavable linkers are a next-generation protein engineering approach that allows biologics to circulate in stealth mode, becoming active preferentially in disease specific micro-environments, with the aim to enable saferandmoreefficaciousmedicines. The technology can be applied to a wide range of existing and potentially new pipeline assets. The molecular design of Amunixs molecules endows the inactive stealth molecules with long-lasting properties, converting after activation in disease tissues to short half-life agents so that the active molecule is rapidly cleared from the body. Specifically, inimmuno-oncology, Amunixs technology offers the potential to overcome challenges that have plagued the adoption of T-Cell Engager bi-specific antibodies for solid tumors, including unwanted immune attack of normal healthy cells and systematic widespread immune system activation that leads to side effects such as Cytokine Release Syndrome.

We are very proud of what the extraordinary and diverse Amunixteam has accomplished in the development of our Pro-XTEN technology and rapid expansion of our pipeline, said Angie You, Ph.D., CEO, Amunix.

We now look forward to combining forces with Sanofis team to leverage its expertise and together serve as a center of excellence in bringing these potentially better and safer drug candidatesto patients, said Volker Schellenberger, Ph.D., Co-Founder, President and Chief Technology Officer, Amunix.

The closing of the transaction is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. Sanofi expects to complete the acquisition in Q1 of 2022.

Weil, Gotshal & Manges LLP is acting as Sanofis legal counsel. Centerview Partners LLC is acting as financial advisor to Amunix and Fenwick & West LLP is acting as its legal counsel.

XTEN, XPAT, XPAC and PRO-XTEN are trademarks in the name of Amunix.

AboutAmunix

Amunix Pharmaceuticals is an immuno-oncology company focused on designing and developing maskedT cellengagers and cytokines to bring the promise of these potent immune-activating biotherapeutics to patients with cancers. The company is leveraging its proprietary XPATand XPAC platforms to advance a pipeline of novel drugs that are preferentially activated in the tumor microenvironment and designed to overcome toxicity challenges that have hindered otherT celland cytokine therapies. Amunixs proprietary masking technology has been clinically validated to extend drug half-life with limited immunogenicity. The companys initial product candidate is AMX-818, an XPATT cellengager targeting a variety ofHER2-expressingsolid tumors, which is currently advancing towards the clinic. Along with several otherT cellengager programs, including PSMA-XPAT and EGFR-XPAT, Amunix is also applying its proprietary masking technology to its first masked, protease-activated cytokine program,IL12-XPAC.

Amunix investors include: ArrowMark Partners, Avidity Partners, Bain Capital Life Sciences, BlackRock, Casdin Capital, CaaS Capital Management, Clough Capital Partners, Delian Capital, Franklin Templeton, Frazier Healthcare Partners, Janus Henderson Investors, Longitude Capital, Lowercase Capital, Omega Funds, Polaris Partners, Redmile Group,Two River, Venrock, Viking Global Investors.For additional information about the company, please visitAmunixs website.

About Sanofi

Sanofi is dedicated to supporting people through their health challenges. We are a global biopharmaceutical company focused on human health. We prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions.

With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.

SanofiMedia Relations Contacts

Sally BainTel.:+1 (781) 264-1091Sally.Bain@sanofi.com

Nicolas ObristTel.: +33 (0)6 77 21 27 55Nicolas.Obrist@sanofi.com

Amunix Media Relations Contactmedia@amunix.com

SanofiInvestor Relations Contacts ParisEva Schaefer-JansenArnaud DelepineNathalie Pham

SanofiInvestor Relations Contacts North AmericaFelix Lauscher

Tel.: +33 (0)1 53 77 45 45investor.relations@sanofi.com https://www.sanofi.com/en/investors/contact

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-- Press release Amunix Sanofi ENG 211221