Global pharmaceutical major Sanofi has completed the acquisition of Dynavax Technologies Corporation, strengthening its position in the adult immunisation segment.
The acquisition brings Dynavax’s adult hepatitis B vaccine, HEPLISAV-B, into Sanofi’s portfolio. The vaccine is currently marketed in the United States and is differentiated by its two-dose regimen administered over one month. The deal also includes Z-1018, Dynavax’s shingles vaccine candidate that is currently in phase 1/2 clinical studies, along with other vaccine pipeline assets.
The transaction is expected to enhance Sanofi’s adult vaccine offering by combining Dynavax’s products with Sanofi’s global commercial reach, development capabilities, and scale.
The tender offer for all outstanding shares of Dynavax common stock expired shortly after 11:59 p.m. EST on February 9, 2026, with all conditions to the offer having been satisfied. On February 10, 2026, Sanofi accepted for payment all shares that were validly tendered and not withdrawn.
Following the tender offer, Sanofi completed the acquisition through the merger of a wholly owned subsidiary with Dynavax, in accordance with Section 251(h) of the Delaware General Corporation Law. Dynavax has continued as the surviving entity and is now an indirect, wholly owned subsidiary of Sanofi.
As part of the merger, all Dynavax shares not tendered were converted into the right to receive $15.50 per share in cash, without interest and subject to applicable withholding taxes, consistent with the tender offer terms.
