Provention Bio
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Provention Bio was a US biopharmaceutical company incorporated in Delaware in 2016, focused on innovative treatments for immune-mediated diseases. Under CEO Ashleigh Palmer, its lead program was TZIELD (teplizumab-mzwv), first-in-class therapy to delay the onset of stage 3 type 1 diabetes - originally developed by MacroGenics and acquired by Provention Bio in 2018. The company raised $28.4 million in Series A (2017), IPO'd on Nasdaq in 2018 raising $64 million, and won FDA approval for TZIELD on November 17, 2022.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Founded
Provention Bio incorporated in Delaware; CEO Ashleigh Palmer leads development of immune-disease therapies.
- IPO and teplizumab acquisition
Acquired teplizumab from MacroGenics; closed $28.4M Series A (2017) and a $64M IPO listing on Nasdaq under 'PRVB'.
- FDA approval
On November 17, 2022 the FDA approved TZIELD injection to delay stage 3 type 1 diabetes in adults and pediatric patients 8+ with stage 2 disease; a co-promotion agreement with Sanofi was signed in October 2022.
- Acquired by Sanofi
On March 13, 2023 Sanofi agreed to acquire Provention Bio for approximately $2.9 billion ($25/share cash); the acquisition completed April 27, 2023, and Provention Bio became an indirect wholly owned subsidiary of Sanofi, adding TZIELD to Sanofi's General Medicines portfolio.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.