. Sanofi and Blueprint Medicines Corporation (Blueprint), a US-based, publicly traded biopharmaceutical company specializing in systemic mastocytosis (SM), a rare immunological disease, and other KIT-driven diseases, have entered into an agreement under which Sanofi will acquire Blueprint.

赛诺菲与总部位于美国的公开上市生物制药公司Blueprint Medicines Corporation（简称“Blueprint”）达成协议，根据该协议，赛诺菲将收购Blueprint。Blueprint专注于系统性肥大细胞增多症（SM）这一罕见免疫疾病及其他KIT驱动的疾病。

The acquisition includes a rare immunology disease medicine, Ayvakit/Ayvakyt (avapritinib), approved in the US and the EU, and a promising advanced and early-stage immunology pipeline. Furthermore, Blueprint’s established presence among allergists, dermatologists, and immunologists is expected to enhance Sanofi’s growing immunology pipeline..

此次收购包括一种罕见的免疫疾病药物Ayvakit/Ayvakyt（avapritinib），该药物已在美国和欧盟获批，同时还包括一条前景广阔的免疫学晚期和早期研发管线。此外，Blueprint在过敏科、皮肤科和免疫科领域已建立的强大影响力，预计将增强赛诺菲不断发展的免疫学研发管线。

Ayvakit/Ayvakyt is the only approved medicine for advanced and indolent systemic mastocytosis (ASM & ISM), a rare immunology disease, which is characterized by the accumulation and activation of aberrant mast cells in bone marrow, skin, the gastrointestinal tract, and other organs. The acquisition will also bring elenestinib, a next-generation medicine for SM, as well as BLU-808, a highly selective and potent oral wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology..

Ayvakit/Ayvakyt 是唯一获批用于治疗晚期和惰性系统性肥大细胞增多症 (ASM & ISM) 的药物，这是一种罕见的免疫疾病，其特征是异常肥大细胞在骨髓、皮肤、胃肠道及其他器官中积累和激活。此次收购还将带来针对 SM 的下一代药物 elenestinib，以及 BLU-808——一种高效且高度选择性的口服野生型 KIT 抑制剂，具有治疗广泛免疫疾病领域的潜力。

Under the terms of the acquisition, Sanofi will pay $129.00 per share in cash at closing, representing an equity value of approximately $9.1 billion. Blueprint shareholders also will receive one non-tradeable contingent value right (CVR) which will entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808.

根据收购条款，赛诺菲将在交易完成时以每股129.00美元的现金支付，股权价值约为91亿美元。Blueprint股东还将获得一份不可交易的或有价值权（CVR），持有人将有权在分别达成BLU-808未来的开发和监管里程碑时，获得每份CVR分别对应2美元和4美元的两笔潜在里程碑付款。

The total equity value of the transaction, including potential CVR payments, represents approximately $9.5 billion on a fully diluted basis..

包括潜在的CVR支付在内，该交易的总股权价值在完全稀释的基础上约为95亿美元。

Paul Hudson

保罗·哈德森

CEO, Sanofi

赛诺菲首席执行官

'The proposed acquisition of Blueprint Medicines represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world's leading immunology company. This acquisition is fully aligned with our strategic intent to strengthen our existing therapeutic areas, to bring relevant and differentiated medicines to patients and to secure attractive returns to our shareholders.

“拟议收购Blueprint Medicines是我们罕见病和免疫学领域组合的战略性进展。它增强了我们的研发管线，并加速了我们向全球领先的免疫学公司转型。此次收购完全符合我们的战略意图，即加强现有的治疗领域，为患者带来有意义且差异化的药物，并为股东确保有吸引力的回报。

It complements recent acquisitions of early-stage medicines that remain our main field of interest. Sanofi still retains a sizeable capacity for further acquisitions. We are excited to welcome Blueprint’s talented people and we look forward to chasing the miracles of science together. This makes sense for science, for both companies, for healthcare professionals, and – most of all – for patients.” .

它补充了我们近期对早期药物的收购，这些仍然是我们的主要兴趣领域。赛诺菲仍然保留着可观的能力进行进一步的收购。我们很高兴欢迎Blueprint的优秀人才，我们期待共同追逐科学的奇迹。这对科学、两家公司、医疗专业人士来说都是有意义的，最重要的是，这对患者而言也是有益的。

Kate Haviland

凯特·哈维兰

CEO, Blueprint Medicines

首席执行官，蓝图医药公司

“Since our founding, Blueprint Medicines has worked at the intersection of scientific innovation and operational excellence. I’m incredibly proud of the medical innovations our people have created and delivered to patients. We have translated our unique scientific understanding of mast cell biology into a portfolio of important therapies including Ayvakit – the first and only medicine approved to treat the root cause of systemic mastocytosis – and worked collaboratively with communities to improve standards of care and patient outcomes.

“自成立以来，Blueprint Medicines 一直处于科学创新与运营卓越的交汇点。我为我们的团队所创造并带给患者的医疗创新感到无比自豪。我们已将自身对肥大细胞生物学的独特科学理解转化为一系列重要的治疗方案，其中包括 Ayvakit——首个也是唯一获批用于治疗系统性肥大细胞增多症根本原因的药物，并与各社区携手合作，提升护理标准和患者疗效。

With this agreement, we begin our next chapter with Sanofi, whose exceptional leadership in rare disease and immunology and proven ability to solve medical challenges at scale stand to accelerate our joint mission to bring life-changing medicines to many more patients around the world.”.

通过这项协议，我们开启了与赛诺菲的下一个篇章，赛诺菲在罕见病和免疫学领域的卓越领导力以及大规模解决医学挑战的经验证能力，将加速我们共同的使命，为世界各地更多患者带来改变生命的药物。

Mast cells play an important role in immune responses and are typically found in tissues that encounter the external environment, such as the skin, lungs, and gastrointestinal tract. Upon activation, mast cells release pro-inflammatory molecules such as histamines and proteases. Systemic mastocytosis is a rare immunologic disorder that can lead to a range of debilitating symptoms across multiple organ systems and a significant impact on patients' quality of life.

肥大细胞在免疫反应中起着重要作用，通常存在于接触外部环境的组织中，例如皮肤、肺和胃肠道。激活后，肥大细胞释放组胺和蛋白酶等促炎分子。系统性肥大细胞增多症是一种罕见的免疫疾病，可能导致多个器官系统的衰弱症状，并对患者的生活质量产生重大影响。

The symptoms that patients with SM experience can include anaphylaxis, bone disease, gastrointestinal distress and skin lesions. ISM represents the majority of SM cases..

SM患者可能出现的症状包括过敏反应、骨病、胃肠道不适和皮肤病变。ISM代表了SM病例的大多数。

Ayvakit achieved net revenues of $479 million in 2024 and nearly $150 million in Q1 2025, representing year-on-year growth of more than 60 percent over Q1 2024. The oral medicine is a potent and selective inhibitor of activated KIT and PDGFRA mutant kinases. In certain diseases, mutations in KIT and PDGFRA force protein kinases into an increasingly active state and Ayvakit/Ayvakyt is designed to bind and inhibit these proteins..

Ayvakit在2024年实现了4.79亿美元的净收入，2025年第一季度接近1.5亿美元，同比增长超过60%。这种口服药物是强效且选择性的激活型KIT和PDGFRA突变激酶抑制剂。在某些疾病中，KIT和PDGFRA的突变会使蛋白激酶进入过度活跃状态，而Ayvakit/Ayvakyt旨在结合并抑制这些蛋白质。

Elenestinib is a next-generation, potent and highly selective KIT D816V inhibitor with limited central nervous system penetration. The oral investigational ISM medication is the subject of HARBOR, a phase 2/3 study (clinical study identifier: NCT04910685). The ongoing, randomized, double-blind, placebo-controlled study is designed to evaluate the efficacy and safety of elenestinib plus symptom-directed therapy in patients with ISM and smoldering SM..

Elenestinib 是一种下一代、强效且高度选择性的 KIT D816V 抑制剂，中枢神经系统渗透有限。这种口服的在研 ISM 药物是 HARBOR 项目的研究对象，该项目是一项 2/3 期研究（临床研究标识符：NCT04910685）。这项正在进行的随机、双盲、安慰剂对照研究旨在评估 Elenestinib 联合症状导向疗法在 ISM 和惰性 SM 患者中的疗效和安全性。

BLU-808 is an investigational oral, highly potent and selective wild-type KIT inhibitor that was developed leveraging Blueprint’s expertise in mast cell biology. Wild-type KIT plays a central role in mast cell activation, which is implicated in a broad range of inflammatory diseases.

BLU-808 是一种研究性口服、高效且选择性的野生型 KIT 抑制剂，由 Blueprint 利用其在肥大细胞生物学方面的专业知识开发。野生型 KIT 在肥大细胞活化中起核心作用，而肥大细胞活化与多种炎症性疾病有关。

Transaction terms and financial considerations

交易条款和财务考量

Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all outstanding shares of Blueprint for $129.00 per share in cash, reflecting a total equity value of approximately $9.1 billion. In addition, Blueprint’s shareholders will receive one non-tradeable CVR per Blueprint share with two potential milestone payments as follows:.

根据合并协议的条款，赛诺菲将发起现金要约收购，以每股129.00美元的价格收购Blueprint所有已发行股份，总股权价值约为91亿美元。此外，Blueprint的股东将获得每股对应的一份不可交易的或有价值权（CVR），其中包含两个潜在的里程碑付款，具体如下：。

$2 per share, conditioned upon the achievement of a clinical development milestone for BLU-808, and

每股2美元，条件是实现BLU-808的临床开发里程碑，并且

$4 per share, conditioned upon the achievement of a regulatory milestone for BLU-808.

每股4美元，条件是BLU-808达到监管里程碑。

The upfront offer price represents a premium of approximately 27% over the closing price of Blueprint on May 30, 2025 and a premium of approximately 34% over the 30 trading days volume weighted average price (VWAP) of Blueprint as of May 30, 2025. Together with the CVR, the premium is approximately 33% over the closing price on May 30, 2025 and approximately 40% over the 30 trading days VWAP..

初始报价较2025年5月30日Blueprint的收盘价溢价约27%，较截至2025年5月30日的30个交易日成交量加权平均价格（VWAP）溢价约34%。加上或有价值权（CVR），溢价约为2025年5月30日收盘价的33%，以及30个交易日VWAP的40%。

The consummation of the tender offer is subject to customary closing conditions, including the tender of a number of shares of Blueprint common stock representing at least a majority of the outstanding shares of Blueprint common stock, the receipt of required regulatory approvals, and other customary conditions..

要约收购的完成需满足惯例的交割条件，包括收到代表至少 Blueprint 普通股多数已发行股份的股票，获得所需的监管批准以及其他惯例条件。

If the tender offer is successfully completed, a wholly owned subsidiary of Sanofi will merge with and into Blueprint and all of the outstanding Blueprint shares that are not tendered in the tender offer will be converted into the right to receive the same $129.00 per share in cash and one CVR per share offered to Blueprint shareholders in the tender offer.

如果成功完成要约收购，赛诺菲的一家全资子公司将与Blueprint合并，所有未在要约收购中出售的流通在外的Blueprint股份将被转换为有权获得同样每股129.00美元现金和每股一个CVR（或有价值权利）的权利，这些将提供给参与要约收购的Blueprint股东。

Sanofi plans to finance the transaction with a combination of cash on hand and proceeds from new debt. The tender offer is not subject to any financing condition. Subject to the satisfaction or waiver of customary closing conditions, Sanofi currently expects to complete the acquisition in the third quarter of 2025.

赛诺菲计划通过手中的现金和新债务的收益来为此次交易融资。要约收购不受任何融资条件的限制。在满足或放弃常规交割条件的情况下，赛诺菲目前预计将在2025年第三季度完成收购。

The acquisition will not have a significant impact on Sanofi’s financial guidance for 2025. It is immediately accretive to gross margin and accretive to business operating income and EPS after 2026..

此次收购不会对赛诺菲2025年的财务指导产生重大影响。它将立即对毛利率产生增值，并在2026年后对营业利润和每股收益产生增值。

About Ayvakit

关于Ayvakit

Ayvakit (avapritinib) is the first and only medicine approved by the US Food and Drug Administration (FDA) to treat the root cause of SM. It was FDA approved for the treatment of advanced SM in June 2021 and indolent SM in May 2023. It now is indicated in adults with ISM, adults with advanced SM, including aggressive SM (ASM), SM with an associated hematological neoplasm (SM-AHN) and mast cell leukemia (MCL), and adults with unresectable or metastatic gastrointestinal stromal tumor (GIST) harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations.

Ayvakit（阿伐普利尼）是美国食品药品监督管理局（FDA）批准的首个也是唯一用于治疗肥大细胞增多症（SM）根本原因的药物。它于2021年6月获得FDA批准用于治疗晚期SM，并于2023年5月获批用于惰性SM。该药物目前适用于患有惰性SM（ISM）的成人、患有晚期SM的成人，包括侵袭性SM（ASM）、伴相关血液肿瘤的SM（SM-AHN）和肥大细胞白血病（MCL），以及携带PDGFRA外显子18突变（包括PDGFRA D842V突变）的不可切除或转移性胃肠道间质瘤（GIST）成人患者。

The medicine is approved in the EU as Ayvakyt for the treatment of adults with ISM with moderate to severe symptoms inadequately controlled on symptomatic treatment, adults with ASM, SM-AHN or MCL, after at least one systemic therapy, and adults with unresectable or metastatic GIST harboring the PDGFRA D842V mutation.

该药物在欧盟被批准作为Ayvakyt，用于治疗症状性治疗无法充分控制的中度至重度症状的成人ISM患者、至少接受过一种系统治疗的成人ASM、SM-AHN或MCL患者，以及携带PDGFRA D842V突变的不可切除或转移性GIST成人患者。

Globally, the medicine is approved for one or more indications in 16 countries, including China where it is marketed by CStone Pharmaceuticals, paying tiered percentage royalties on sales..

全球范围内，该药物已在包括中国在内的16个国家获得批准用于一种或多种适应症，基石药业负责在中国的销售，并按销售额支付分层百分比的特许权使用费。

About Sanofi

关于赛诺菲

Sanofi is an R&D driven, AI-powered biopharma company committed to improving people’s lives and creating compelling growth. We apply our deep understanding of the immune system to invent medicines and vaccines that treat and protect millions of people around the world, with an innovative pipeline that could benefit millions more..

赛诺菲是一家以研发为驱动、以人工智能为助力的生物制药公司，致力于改善人们的生活并创造引人注目的增长。我们凭借对免疫系统的深刻理解，开发能够治疗和保护全球数百万人的药物和疫苗，并通过创新的研发管线，有望使数百万人进一步受益。

Our team is guided by one purpose: we chase the miracles of science to improve people’s lives; this inspires us to drive progress and deliver positive impact for our people and the communities we serve, by addressing the most urgent healthcare, environmental, and societal challenges of our time. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY.

我们的团队以一个目标为指导：我们追逐科学的奇迹以改善人们的生活；这激励我们通过应对当今最紧迫的医疗、环境和社会挑战，推动进步并为我们服务的人们和社区带来积极影响。赛诺菲在巴黎欧洲证券交易所（EURONEXT: SAN）和纳斯达克（NASDAQ: SNY）上市。

About Blueprint Medicines

关于Blueprint Medicines

Blueprint Medicines is a global, fully integrated biopharmaceutical company that invents life-changing medicines. We seek to alleviate human suffering by solving important medical problems in two core focus areas: allergy/inflammation and oncology/hematology. Our approach begins by targeting the root causes of disease, using deep scientific knowledge in our core focus areas and drug discovery expertise across multiple therapeutic modalities.

Blueprint Medicines是一家全球性的、完全整合的生物制药公司，致力于发明改变生命的药物。我们专注于解决两大核心领域的重大医学问题，即过敏/炎症和肿瘤学/血液学，以减轻人类痛苦。我们的方法始于针对疾病的根本原因，利用我们在核心领域的深厚科学知识和跨多种治疗模式的药物发现专长。

We have a track record of success with two approved medicines, including Ayvakit/Ayvakyt (avapritinib) which we are bringing to patients with SM in the US and Europe. Leveraging our established research, development, and commercial capability and infrastructure, we aim to significantly scale our impact by advancing a broad pipeline of programs ranging from early science to advanced clinical trials in mast cell diseases and solid tumors.

我们有两种获批的药物取得了成功的记录，其中包括我们正在为美国和欧洲的SM患者带来的Ayvakit/Ayvakyt（阿伐普利尼）。利用我们已建立的研发和商业能力及基础设施，我们旨在通过推进从早期科学到肥大细胞疾病和实体瘤晚期临床试验的广泛项目管道，大幅扩大我们的影响力。

Blueprint Medicines is listed on NASDAQ: BPMC..

Blueprint Medicines 在纳斯达克上市，股票代码为：BPMC。