Sanofi to buy Translate Bio for $3.2 billion
pharmafile | August 3, 2021 | News story | Manufacturing and Production |
Sanofi has agreed to buy U.S. biotech company Translate Bio in a $3.2 billion deal.
This is part of Sanofi’s goal to accelerate the application of messenger RNA (mRNA) to develop therapeutics and vaccines.
Sanofi will acquire all outstanding shares of Translate Bio for $38.00 per share in cash, which represents a total equity value of approximately $3.2 billion.
The Sanofi and Translate Bio Boards of Directors unanimously approved the transaction.
Paul Hudson, Sanofi Chief Executive Officer, said: “Translate Bio adds an mRNA technology platform and strong capabilities to our research, further advancing our ability to explore the promise of this technology to develop both best-in-class vaccines and therapeutics.
“A fully owned platform allows us to develop additional opportunities in the fast-evolving mRNA space. We will also be able to accelerate our existing partnered programs already under development.
“Our goal is to unlock the potential of mRNA in other strategic areas such as immunology, oncology, and rare diseases in addition to vaccines.”
Ronald Renaud, Chief Executive Officer, Translate Bio, said: “Sanofi and Translate Bio have a shared commitment to innovation in the mRNA space.
“With Sanofi’s long-standing expertise in developing and commercializing vaccines and other innovative medicines on a global scale, Translate Bio’s mRNA technology is now even better positioned to reach more people, faster.
“The talented and dedicated Translate Bio team has built the foundation of a strong mRNA platform. Our expertise coupled with that of Sanofi has driven significant progress under the collaboration thus far, and we believe that this acquisition will strengthen the team’s ability to achieve the full potential of the mRNA technology.”
