Vigil Neuroscience to be acquired by Sanofi for $8.00 per share
Vigil Neuroscience (VIGL) and Sanofi (SNY) announced that it has entered into a definitive merger agreement pursuant to which Sanofi will acquire Vigil for an upfront payment of $8.00 per share of common stock in cash. Vigil shareholders will also receive a non-tradeable contingent value right entitling the holder to potentially receive an additional $2.00 per share in cash payable following the first commercial sale of VG-3927 if achieved within a specific period. The total equity value of the transaction, including the potential CVR payment, represents approximately $600 million on a fully diluted basis. 'We are incredibly proud of the legacy we have built at Vigil and today's announcement is a testament to the value of our TREM2 agonist pipeline,' said Ivana Magovevi-Liebisch, Ph.D., J.D., President and Chief Executive Officer of Vigil. 'Sanofi's development capabilities, therapeutic expertise, global footprint, and financial strength provide the greatest opportunity to further the development of VG-3927 for the potential treatment of Alzheimer's disease and potentially bring this important and differentiated therapy to those struggling with the immense burden of this disease.'
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