Sanofi to Acquire Dynavax for $2.2 Bn to Expand Adult Vaccine Portfolio

The transaction brings a marketed adult hepatitis B vaccine and an early-stage shingles vaccine candidate into Sanofi’s vaccines portfolio.

French biopharmaceutical major Sanofi has entered into a definitive agreement to acquire US-based Dynavax Technologies Corporation for approximately $2.2 billion, strengthening its position in the adult immunization market.

The transaction brings a marketed adult hepatitis B vaccine and an early-stage shingles vaccine candidate into Sanofi’s vaccines portfolio.

Dynavax is a publicly traded vaccines company best known for HEPLISAV-B®, an adult hepatitis B vaccine currently marketed in the United States. The vaccine is differentiated by its two-dose regimen administered over one month, compared to the three-dose, six-month schedule required for conventional hepatitis B vaccines. The accelerated dosing schedule allows for faster seroprotection in adults, a factor that has supported its uptake in the US market.

In addition to HEPLISAV-B, the acquisition includes Dynavax’s shingles vaccine candidate, Z-1018, which is currently in Phase 1/2 clinical development. The asset targets herpes zoster and is part of Dynavax’s broader pipeline of vaccine programs that will now transition to Sanofi’s research and development platform following deal closure.

Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all outstanding shares of Dynavax for $15.50 per share. The offer represents a total equity value of approximately $2.2 billion. Upon completion of the tender offer and satisfaction of customary closing conditions, Dynavax will become a wholly owned subsidiary of Sanofi.

The transaction is expected to integrate Dynavax’s commercial vaccine operations with Sanofi’s global manufacturing, regulatory, and distribution infrastructure. HEPLISAV-B will continue to be marketed in the US, while the shingles candidate and other pipeline assets are expected to progress through Sanofi’s development organization.

The acquisition adds to Sanofi’s vaccines business, which has been increasing its focus on adult and specialty immunization programs alongside its established pediatric vaccine portfolio. No changes to existing clinical timelines or regulatory submissions for Dynavax’s assets have been disclosed as part of the announcement.

The companies have not yet announced a specific timeline for deal completion, which remains subject to regulatory approvals and other customary closing conditions.

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