SangStat, Maker of Immunosuppressive Thymoglobulin, Sold to Genzyme

SangStat Medical Corporation, a California- based company that makes a drug to suppress immune rejection in organ transplants, has agreed to be acquired for $600 million by biotechnology company Genzyme Corp.

SangStat specializes in medicines that prevent the immune system from rejecting transplanted organs, while Genzyme is developing its own anti-rejection medicines as well as treatments for immune system-related diseases.

SangStat's most important drug is Thymoglobulin, an injectable antibody used to prevent the body from rejecting kidneys and other organs soon after they are transplanted.

The medicine had worldwide sales of $77.4 million last year and will complement Genzyme's Renagel treatment for kidney disease, Genzyme said.

Genzyme says it is acquiring "a profitable and growing company with a leading antibody product used in organ transplantation, a well-respected U.S. and European field organization, and a strong development program with a significant pipeline in immune suppression and immunology."

Genzyme said the transaction, which has been approved by the boards of both companies, should be completed by early September.

Other Sources: Genzyme