Sanofi SA (NASDAQ:SNY) on Wednesday agreed to acquire Dynavax Technologies Corporation (NASDAQ:DVAX) for $15.50 per share in cash, reflecting a total equity value of approximately $2.2 billion.

The acquisition augments Sanofi’s presence in adult immunization.

Key Vaccine Assets

Dynavax’s adult hepatitis B vaccine HEPLISAV-B is currently marketed in the U.S. and is differentiated by its two-dose regimen over one month, which enables high levels of seroprotection faster than other hepatitis B vaccines, which are given in three doses over six months.

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The acquisition also includes Dynavax’s shingles vaccine candidate ...