French drugmaker and healthcare group Sanofi has announced the acquisition of Protein Sciences, a privately held vaccines biotechnology company based in Meriden, Connecticut in the United.
In doing so Sanofi adds Protein Sciences’ flu vaccine Flublok, which currently is the only recombinant protein-based influenza vaccine approved by the FDA.
David Loew, Sanofi executive vice president and head of its vaccines division Sanofi Pasteur, said: “The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine.”
Sanofi’s vaccines portfolio already includes the four-in-one influenza vaccine Fluzone Quadrivalent, which the FDA approved in June 2013. But the addition of Flublok will bring a vaccine that can be used by those with egg allergies and has shorter production timelines than tradition vaccines.
Manon M.J. Cox, Protein Sciences’ president and CEO, added: “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.”
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, according to Sanofi.The acquisition, which has been unanimously approved by the board of directors of Protein Sciences and shareholders, is expected to close in the third quarter of 2017, subject to customary regulatory approvals.
