Date: 2017-08-28
Type of information: Company acquisition
Acquired company: Protein Sciences (USA - CT)
Acquiring company: Sanofi (France)
Amount: up to $750 million
Terms:
- • On August 28, 2017, Sanofi has completed the acquisition of Protein Sciences, a vaccines biotechnology company based in Meriden. This completion follows Federal Trade Commission approval, having met all the conditions required for the closing of the transaction.
• On July 11, 2017, Sanofi announced it will acquire Protein Sciences, a privately held vaccines biotechnology company based in Meriden, Connecticut in the United States. Under the terms of the agreement, Sanofi will make an upfront payment of $650 million and pay up to $100 million upon achievement of certain milestones. The acquisition was unanimously approved by the board of directors of Protein Sciences and a majority of Protein Sciences shareholders.
Details:
- The acquisition of Protein Sciences will allow Sanofi to broaden its flu portfolio with the addition of a non-egg based vaccine. Protein Sciences received approval from the FDA in October 2016 for their Flublok® Quadrivalent Influenza Vaccine (QIV). Flublok® is the only recombinant protein-based influenza vaccine approved by the FDA. In October 2016, Protein Sciences received approval from the FDA for the quadrivalent version of Flublok vaccine (Flublok Quadrivalent vaccine), indicated for adults 18 years and older.
- Protein Sciences has developed the baculovirus expression system technology (B.E.S.T.) platform for the production of recombinant proteins. On this basis, they have developed and commercialized Flublok Quadrivalent vaccine, a recombinant influenza vaccine indicated for active immunization of adults 18 years of age and older against seasonal influenza.
Related: Vaccines - Infectious diseases
Is general: Yes
