Sanofi will acquire Protein Sciences, a privately held vaccines biotechnology company based in Meriden, Connecticut in the US. Under the terms of the agreement, Sanofi will make an upfront payment of US$650 million and pay up to $100m upon achievement of certain milestones.
David Loew, Sanofi Executive Vice President and Head of Sanofi Pasteur, Sanofi's vaccines division said: "The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non egg based vaccine.”
Protein Sciences received approval from the US Food and Drug Administration (FDA) in October 2016 for its Flublok Quadrivalent Influenza Vaccine (QIV). Flublok is the only recombinant protein based influenza vaccine approved by the FDA.
Manon M.J. Cox, President and CEO, Protein Sciences, said: “Protein Sciences was actively looking for an opportunity to grow its business, particularly in the US. As part of Sanofi Pasteur, we expect our Flublok influenza vaccine to benefit from Sanofi Pasteur's expertise in the field of influenza vaccines."
The acquisition, which has been unanimously approved by the board of directors of Protein Sciences and a majority of Protein Sciences shareholders, is expected to close in the third quarter of 2017, subject to customary regulatory approvals.