Confo Therapeutics announced today that it has received a €1 million grant from the Flemish Government through Flanders Innovation & Entrepreneurship (VLAIO). The grant will be used to support the development of new methods for screening libraries of small molecules for the discovery of new therapeutic candidates targeting G-protein coupled receptors (GPCRs), using the company’s proprietary conformation-sensitive single domain antibodies or Confobodies.

Sanofi and Ablynx entered into a definitive agreement under which Sanofi will offer to acquire all of the outstanding ordinary shares, including shares represented by American Depositary Shares (ADSs), warrants and convertible bonds of Ablynx at a price per Ablynx share of €45 in cash, which represents an aggregate equity value of approximately €3.9 billion. The transaction was unanimously approved by both the Sanofi and Ablynx Boards of Directors.