Sanofi has entered an agreement to acquire Vigil Neuroscience for approximately $470 million, adding a new investigational treatment for Alzheimer’s disease to the French pharmaceutical company’s pipeline.

Key Takeaways Vigil Neuroscience shares more than tripled Thursday after the company reached a deal to be acquired by Sanofi.French pharmaceutical giant Sanofi agreed to pay $8.00 per share in cash at closing,

Vigil’s shareholders to receive up to $10.00 per share in cash, comprised of $8.00 per share in cash at closing and a non-tradeable contingent value right of $2.00 per share in cash following the first commercial sale of VG-3927 - - Acquisition expected to strengthen development path for the oral small molecule TREM2 agonist program,