Sanofi completes acquisition of Protein Sciences for $750m
French pharmaceutical company Sanofi has completed the acquisition of US-based vaccine development firm Protein Sciences for $750m.
Under the deal, Sanofi will make an upfront payment of $650m and pay up to $100m after certain milestones have been achieved.
The completion of the transaction follows approval from the Federal Trade Commission, which was granted after all the conditions required for its closure were met.
The acquisition has enabled Sanofi Pasteur, the vaccines global business division of Sanofi, to add flublok to its existing influenza vaccine portfolio.
Flublok is currently the only available recombinant protein-based influenza vaccine approved by the US Food and Drug Administration (FDA).
Sanofi executive vice-president and Sanofi Pasteur head David Loew said: “This acquisition is consistent with our strategic ambition of expanding our presence in the respiratory vaccine market, and builds on the recently announced collaboration on an investigational respiratory syncytial virus (RSV) monoclonal antibody.”
Last October, Protein Sciences received FDA approval for the quadrivalent version of flublok vaccine that was indicated for use in adults.
Protein Sciences has developed the baculovirus expression system technology (B.E.S.T.) platform for the manufacturing of recombinant proteins. It has also produced and marketed flublok quadrivalent vaccine indicated for active immunisation of adults aged 18 and older against seasonal influenza.
Loew added: “Older adults are at high risk of severe influenza and its complications, so it is exciting to see that in a recent clinical study in adults 50 years of age and older, individuals who received flublok quadrivalent vaccine were significantly less likely to get influenza than those who received a quadrivalent inactivated influenza vaccine.”
In July this year, Sanofi entered an agreement to buy Protein Sciences, and the transaction was unanimously approved by the board of directors and a large number of shareholders of Protein Sciences.