Sanofi complete acquisition of mRNA company Translate Bio
pharmafile | September 15, 2021 | News story | Research and Development | 2021, 3.2 billion, COVID-19, Sanofi, Translate Bio, acquisition, mrna, vaccines
French pharma giants Sanofi continues its run of acquisitions in 2021 by completing the deal for Translate Bio, a Massachusetts-based company specialising in mRNA technology for vaccines.
The acquisition is Sanofi’s fourth of this year and joins Kymab Ltd, Tidal Therapeutics, and Kadmon Corporation in their portfolio additions. The acquisition of Translate Bio comes after Sanofi announced its mRNA centre of excellence in June, where it is investing €400 million each year in producing vaccines using mRNA.
Translate Bio were bought by Sanofi for $3.2 billion in August, and the board of directors at both companies have now approved this transaction. Sanofi will acquire all outstanding shares in Translate Bio for $38 per share in cash.
Read: Sanofi to buy Translate Bio for $3.2 billion
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The deal and acquisition follow three years of collaboration between the two companies. They signed an exclusive licence agreement to develop mRNA vaccines, which was expanded as the COVID-19 pandemic spread across the world in 2020. They currently have two mRNA vaccines in clinical trials: a COVID-19 vaccine in Phase I/II trials and a seasonal influenza vaccine in Phase I trials.
“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,” said Ronald Renaud, Chief Executive Officer, Translate Bio.
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