07/11/2017 | Press release | Distributed by Public on 07/11/2017 06:44
- Acquisition adds recombinant-based influenza vaccine to Sanofi Pasteur's portfolio -
Paris, France - July 11, 2017 - Sanofi announced today 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.
Protein Sciences received approval from the US Food and Drug Administration (FDA) in October 2016 for their Flublok Quadrivalent Influenza Vaccine (QIV). Flublok is the only recombinant protein-based influenza vaccine approved by the FDA.
'The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine,' said David Loew, Sanofi Executive Vice President and Head of Sanofi Pasteur, Sanofi's vaccines division.
'Protein Sciences was actively looking for an opportunity to grow its business, particularly in the US,' said Manon M.J. Cox, President and Chief Executive Officer, Protein Sciences. '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.
About Protein Sciences
Protein Sciences is a privately held biotech company established in 1983 and headquartered in Meriden, CT. Protein Sciences' mission is to save lives and improve health through the creation of innovative vaccines and biopharmaceuticals.
About Sanofi Pasteur
Sanofi Pasteur produces vaccines against seasonal influenza on its four sites: Swiftwater (Pennsylvania, United States), Val de Reuil (France), Ocoyoacac (Mexico City, Mexico) and Shenzhen (China).
Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi is organized into five global business units: Diabetes and Cardiovascular, General Medicines and Emerging Markets, Sanofi Genzyme, Sanofi Pasteur and Consumer Healthcare. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
Sanofi Forward-Looking Statements
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