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Sanofi has announced it will acquire Protein Sciences, a privately held vaccines biotechnology company based in Meriden, CT. 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 FDA approval in October 2016 for their Flublok Quadrivalent Influenza Vaccine (QIV), which is the only recombinant protein-based influenza vaccine approved by the Agency.
“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.
The acquisition is expected to close in the third quarter of 2017.