Sanofi has announced its intention to buy Belgian drugmaker Ablynx via a deal valued at around 3.9 billion Euros, beating Novo Nordisk to the finish line.

Ablynx is focused on the discovery and development of Nanobodies, a novel class of proprietary next generation biological, and offers a pipeline of more than 45 proprietary and partnered candidates for a wide range of therapeutic areas such as haematology, inflammation, immuno-oncology and respiratory diseases.

Eight of its Nanobodies have entered clinical development, and its most advanced product, caplacizumab, is already filed in the European Union and is expected to be filed in the US during the first half of this year, potentially offering a first-in-class treatment for the treatment of acquired thrombotic thrombocytopenic purpura (aTTP).

Under the deal, which has been unanimously approved by both the sets of directors, Sanofi will offer to acquire all of the outstanding ordinary shares, warrants and convertible bonds of Ablynx at a price per Ablynx share of 45 euros in cash.

“With Ablynx, we continue to advance the strategic transformation of our Research and Development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders,” said Sanofi’s chief executive Olivier Brandicourt.

News of the deal will no doubt come as a great disappointment to Novo Nordisk, which recently stepped up its efforts to buy Ablynx with a second offer valued at around 2.6 billion euros.