Kadmon Corporation
A U.S. biopharmaceutical company that developed and commercialized medicines for cancer, infectious disease, immune disorders, and fibrotic conditions before becoming a Sanofi subsidiary in 2021.
Last updated August 31, 2026
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Overview
Kadmon Corporation was a United States biopharmaceutical company established in 2009 by Samuel D. Waksal, the founder and former chief executive of ImClone Systems. Based in New York City, the company also maintained operations in Warrendale, Pennsylvania, and Brighton, Massachusetts. Kadmon was created with a different operating model from a conventional early-stage biotechnology start-up: rather than relying exclusively on internally originated discovery programs, it assembled a portfolio through acquisitions, licensing transactions, and development of products that were already marketed or had reached relatively advanced clinical stages. The company worked across oncology, hepatitis and other infectious diseases, metabolic and renal disorders, immune-mediated disease, and fibrosis. Its portfolio included generic and specialty pharmaceutical products as well as experimental medicines. Assets associated with the company included ribavirin products, oncology drugs, the kinase inhibitor tesevatinib, the ROCK2 inhibitor belumosudil, and the botanical research formulation PHY906. Kadmon also acquired or licensed a range of earlier-stage programs, including salirasib, DX-2400, and compounds from Nano Terra’s Pharmacomer Technology platform. Kadmon’s corporate history was shaped by the background of its founder. Waksal had previously led ImClone and had served a federal prison sentence arising from the 2001 ImClone stock-trading case. Following his release in 2009, restrictions prevented him from serving as an officer of a publicly traded company, so Kadmon was initially privately financed. In September 2014, as the company prepared for a public offering, Harlan W. Waksal, Samuel Waksal’s brother, became president and chief executive officer. Samuel Waksal remained involved as chief of innovation, science and strategy until leaving the company in early 2016. Kadmon completed its initial public offering in 2016. Its shares began trading on the New York Stock Exchange under the symbol KDMN on July 27 of that year, and the listing later moved to Nasdaq in October 2020. During its public-company period, the business concentrated increasing attention on clinical development programs, including belumosudil for fibrotic and immune-related conditions and tesevatinib for kidney disease and selected oncology indications. The company also maintained a portfolio of FDA-approved generic products, including medicines used in cancer, hepatitis B and C, cardiac care, Huntington’s disease, and cystic fibrosis. On September 8, 2021, Sanofi announced an agreement to acquire Kadmon for approximately $1.9 billion. The transaction closed in November 2021, after which Kadmon became a Sanofi subsidiary and its public shares were deregistered. Kadmon therefore no longer operates as an independent listed company. Its principal legacy is the drug-development and specialty-pharmaceutical portfolio transferred into Sanofi, especially the assets that had reached regulatory or late-stage clinical milestones.
History
Kadmon Corporation was founded in 2009 in New York by Samuel D. Waksal, who had previously founded and led ImClone Systems. The new company was initially privately financed. This structure was significant because Waksal, following his federal prison sentence connected with the 2001 ImClone stock-trading case, was barred from serving as an officer of a publicly traded company after his release. Kadmon therefore began as a private biopharmaceutical enterprise while building a portfolio of medicines and development programs. From the beginning, Kadmon pursued an acquisition- and licensing-led strategy. It acquired Three Rivers Pharmaceuticals, based in Warrendale, Pennsylvania, together with Ribasphere and topotecan products. It also entered into an arrangement with Valeant Pharmaceuticals covering hepatitis C medicines, including ribavirin and taribavirin, the latter subsequently associated with Kadmon’s KD024 designation. Oncology assets were obtained from Exelixis, including XL647, later known as tesevatinib or KD019, and XL844. Tesevatinib was investigated as a multi-kinase inhibitor in non-small-cell lung cancer and later in kidney-disease programs, while XL844 was studied as a checkpoint kinase inhibitor intended to increase the sensitivity of cancer cells to radiation. Kadmon expanded beyond conventional small-molecule oncology and infectious-disease assets. In 2011 it acquired rights from Nano Terra to the Pharmacomer Technology platform and three clinical-stage compounds. These included KD025, a ROCK2 inhibitor known earlier as SLx-2119; KD026, an MTP inhibitor; and KD027, a PDE5 inhibitor. In 2012 Kadmon acquired rights to salirasib, designated KD032, from Concordia Pharmaceuticals. Salirasib was being developed as a Ras-pathway antagonist for cancer. Kadmon also obtained rights from Dyax to DX-2400, a monoclonal antibody directed at matrix metalloproteinase-14 and intended to interfere with tumor vascularization and metastasis. Another unusual addition was PHY906, designated KD018, acquired from PhytoCeutica. PHY906 is a traditional four-botanical formulation with a long history of use for gastrointestinal distress. Kadmon investigated it as a supportive or combination treatment intended to enhance the activity of certain anticancer regimens. By 2014, a Phase II study was evaluating the formulation with irinotecan in metastatic colorectal cancer. As Kadmon prepared to become a public company, governance changed in September 2014. Harlan W. Waksal became president and chief executive officer, while Samuel Waksal retained a senior scientific and strategic role as chief of innovation, science and strategy. Samuel Waksal left the company in early 2016. Kadmon filed its public-offering paperwork in June of that year, and its stock began trading on the New York Stock Exchange on July 27, 2016, under the symbol KDMN. The listing moved to Nasdaq in October 2020. The company’s later portfolio combined clinical programs with FDA-approved generic products. Reported products included capecitabine, dofetilide, entecavir, ribavirin, temozolomide, tetrabenazine, and inhaled tobramycin. Clinical work emphasized belumosudil, a ROCK2 inhibitor studied in fibrotic and immune-mediated disease, and tesevatinib, which was investigated in autosomal dominant and autosomal recessive polycystic kidney disease as well as selected cancer indications. Kadmon’s independent existence ended through its acquisition by Sanofi. On September 8, 2021, Sanofi announced a transaction valued at approximately $1.9 billion. The deal closed in November 2021, after which Kadmon became part of Sanofi and its stock was deregistered. The company is consequently classified as defunct as an independent corporate brand, although its products and development assets became part of Sanofi’s pharmaceutical operations.
- 2021
Sanofi acquisition closes
[1]Sanofi completes its acquisition of Kadmon, and Kadmon becomes a subsidiary rather than an independent listed company.
- 2020
Stock listing moves to Nasdaq
[1]Kadmon transfers its public listing from the New York Stock Exchange to Nasdaq.
- 2016
Kadmon completes its initial public offering
[1]Kadmon’s stock begins trading on the New York Stock Exchange under the symbol KDMN.
- 2014
Harlan Waksal becomes chief executive
[1]Harlan W. Waksal becomes president and chief executive officer as Kadmon prepares for a public offering.
- 2012
Salirasib rights acquired
[1]Kadmon obtains rights to the cancer-development compound salirasib, designated KD032.
- 2011
Nano Terra platform rights acquired
[1]Kadmon acquires rights to Nano Terra’s Pharmacomer Technology platform and three clinical-stage compounds.
- 2009
Kadmon is founded
[1]Samuel D. Waksal establishes Kadmon as a privately financed biopharmaceutical company in New York.
Products and positioning
A development-focused biopharmaceutical company combining acquired and licensed drug candidates with internally advanced therapies for serious diseases and areas of unmet medical need.
Clinical-stage small-molecule therapy
Belumosudil
Belumosudil is a selective ROCK2 inhibitor developed by Kadmon for diseases involving fibrosis and abnormal immune responses. The program became one of the company’s principal later-stage assets and was investigated in specific fibrotic and immune-mediated conditions. Its development reflected Kadmon’s strategic shift toward differentiated specialty medicines rather than a portfolio composed only of acquired generics and early research compounds.
Kinase inhibitor
Tesevatinib
Tesevatinib, also known as XL647 and KD019, is an inhibitor of several protein kinases. Kadmon acquired the asset from Exelixis and studied it in non-small-cell lung cancer and in autosomal dominant and autosomal recessive polycystic kidney disease. The compound illustrates Kadmon’s practice of obtaining development programs from other biotechnology companies and redirecting or extending their clinical focus.
Botanical formulation
PHY906
PHY906, designated KD018 by Kadmon, is a four-botanical formulation derived from a traditional Chinese herbal formula historically used for gastrointestinal distress. Kadmon acquired the program from PhytoCeutica and explored it as a combination treatment intended to support or enhance anticancer therapy. A Phase II study evaluated it with irinotecan in metastatic colorectal cancer.
Antiviral medicine
Ribavirin
Ribavirin is an antiviral nucleoside analogue used in hepatitis C treatment regimens. Kadmon obtained commercial rights and product assets through its acquisition of Three Rivers Pharmaceuticals and arrangements involving Valeant Pharmaceuticals. It formed part of Kadmon’s marketed-product base while the company continued to invest in clinical-stage therapies.
Oncology generic
Capecitabine
Capecitabine tablets are an oral antineoplastic medicine classified as a nucleoside metabolic inhibitor. Kadmon listed the product among its U.S. FDA-approved generic medicines, with indications including colon and breast cancer. It represented the company’s commercial generic-pharmaceutical activity alongside its experimental oncology programs.
Antiviral generic
Entecavir
Entecavir tablets are antiviral medicines used for chronic hepatitis B infection. Kadmon included entecavir in its U.S. generic portfolio, giving the company a commercial presence in infectious-disease treatment while its research organization pursued additional specialty and clinical-stage assets.
Oncology generic
Temozolomide
Temozolomide capsules are alkylating chemotherapy products used in the treatment of glioblastoma multiforme and astrocytoma. The medicine was part of Kadmon’s reported FDA-approved generic offerings and complemented its broader emphasis on cancer-related products and research programs.
Neurology generic
Tetrabenazine
Tetrabenazine tablets inhibit vesicular monoamine transporter 2 and are indicated for the treatment of Huntington’s disease chorea. Kadmon listed the medicine among its generic products, extending its commercial portfolio beyond oncology and infectious disease.
Cardiovascular generic
Dofetilide
Dofetilide capsules are cardiac antiarrhythmic products. They were included among Kadmon’s U.S. generic medicines and demonstrate the breadth of the company’s marketed portfolio relative to its concentration on specialty and clinical-stage biotechnology programs.
Respiratory generic
Tobramycin inhalation solution
Kadmon’s reported generic portfolio included tobramycin supplied as an inhalation nebulizer solution for cystic fibrosis-related treatment. The product added a respiratory-care offering to the company’s collection of FDA-approved medicines.
Controversies
2001
Founder’s prior ImClone stock-trading case
Before founding Kadmon, Samuel D. Waksal was involved in the 2001 ImClone stock-trading case and later served a federal prison sentence. The matter concerned his earlier fiduciary role at ImClone rather than an incident reported as misconduct by Kadmon itself.
Brand decisions
2021
Sanofi acquires KadmonM&ABackground
Sanofi sought to add Kadmon’s clinical and specialty-pharmaceutical portfolio, including its work in immune-mediated and fibrotic disease.
Action taken
Sanofi announced and completed an acquisition of Kadmon, bringing the company under Sanofi ownership.
Aftermath
The transaction closed in November 2021. Kadmon became a Sanofi subsidiary and its shares were deregistered.
Announced acquisition value. $1.9 billion (2021 announcement)
2016
Kadmon pursues a public listingStrategyBackground
After several years as a privately financed company, Kadmon sought access to public capital to support its drug-development and commercial portfolio.
Action taken
The company filed for an initial public offering and began trading on the New York Stock Exchange in July 2016.
Aftermath
Kadmon operated as a public company under the symbol KDMN and later transferred its listing to Nasdaq.
Recent events
Sanofi announces acquisition of Kadmon[3]
Reported:
Sanofi announced its acquisition of Kadmon Holdings in a deal valued at $1.9 billion. The article says the purchase was intended to strengthen Sanofi's transplant business line.
FDA approves Rezurock for chronic GVHD[4]
Reported:
The U.S. Food and Drug Administration approved belumosudil (Rezurock), manufactured by Kadmon Holdings, for patients aged 12 years or older with chronic graft-versus-host disease who have failed at least two previous lines of systemic therapy.
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