Global healthcare leader Sanofi (EURONEXT: SAN) (NYSE: SNY) has completed the acquisition of Protein Sciences, a Meriden, Connecticut-based vaccines biotechnology company.
Under the terms of the agreement, Sanofi will make an upfront payment of $650m and pay up to $100m upon achievement of certain milestones.
Through the acquisition, Sanofi Pasteur, the vaccines global business unit of Sanofi, adds a promising product to its influenza vaccine portfolio: Flublok® (Influenza Vaccine), a recombinant protein-based influenza vaccine approved by the US Food and Drug Administration (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.
The acquisition of Protein Sciences fits with Sanofi Pasteur’s strategic initiative to explore non-egg-based influenza vaccine manufacturing technologies.
A privately held biotech company established in 1983, 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.