Pharma BD Deal Intelligence
Sanofi (via Sanofi Pasteur) entered an exclusive worldwide collaboration and license agreement with Translate Bio on June 11, 2018 (closed July 9, 2018) to develop mRNA-based vaccines for infectious diseases. Sanofi paid $45M upfront and committed up to $760M in development, regulatory, and commercial milestones per target plus tiered royalties, covering up to 5 infectious-disease targets on Translate Bio's mRNA platform (total potential ~$805M). On June 23, 2020 (closed July 20, 2020) the companies expanded the pact to all infectious diseases including COVID-19: Translate Bio received $425M upfront ($300M cash + $125M equity at $25.59/share) and became eligible for up to $1.9B in potential milestones. Sanofi then acquired Translate Bio outright, completing the deal on September 14, 2021 at $38.00/share (~$3.2B) and folding the platform into its mRNA Center of Excellence.