Pharma BD Deal Intelligence
A $805M mRNA-vaccine licensing collaboration that Sanofi later converted into a full $3.2B buyout of Translate Bio in 2021. What began as a five-target infectious-disease platform deal expanded to cover COVID-19 and ultimately became Sanofi's mRNA Center of Excellence.
Confirms collaboration closed July 9, 2018 after early termination of HSR waiting period; $45M upfront, up to $805M total across up to 5 infectious-disease…
Translate Bio 8-K exhibit documenting the expanded Sanofi collaboration economics ($425M upfront, up to $1.9B milestones).
Sanofi completed acquisition of Translate Bio on Sept 14, 2021 at $38.00/share, ~$3.2B fully diluted; merger of Sanofi subsidiary into Translate Bio.
Source summaries from our enrichment pipeline; follow links for originals.
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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.
30M US cases/yr · $8.0B Global influenza vaccines + antivirals
Seasonal influenza remains a major public health burden. mRNA-based influenza vaccines are in late-stage development as potential replacements for egg-based manufacturing. Combination flu/COVID vaccines also in development.
Current: egg-based (Sanofi, Seqirus), cell-based (Seqirus/Flucelvax), recombinant (Sanofi/Flublok). mRNA pipeline: Moderna, Pfizer/BioNTech. Key players: Sanofi (market leader), Seqirus, Moderna, Pfizer/BioNTech.
$60.0B Global infectious disease therapeutics & vaccines
Infectious disease pharma encompasses vaccines, antivirals, antibiotics, and antifungals. mRNA vaccine technology, validated by COVID-19, is being extended to influenza, RSV, and other pathogens.
Pfizer/BioNTech and Moderna validated mRNA platform during COVID-19. Now being applied to influenza, RSV, CMV, and combination vaccines. Key players: Pfizer/BioNTech, Moderna, Sanofi, GSK, Novavax.
Sanofi paid $45M upfront plus up to $760M milestones for mRNA infectious disease vaccines.
Sanofi and Translate Bio expanded the 2018 pact to cover all infectious disease vaccines, 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 plus tiered royalties. Closed July 20, 2020.
Translate Bio acquired by Sanofi for $3.2B. mRNA platform integrated. Assessment of Sanofi SA's $805M acquisition of Translate Bio Inc. and its strategic outcomes.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Sanofi SA / Translate Bio Inc. (this deal) | 2018 | $805M | 73 |
| Sanofi SA / Regeneron Pharmaceuticals, Inc. | 2007 | $1.0B | 97 |
| Sanofi SA / Synthelabo S.A. | 1998 | $11.0B | 84 |
| Sanofi SA / Genzyme Corporation | 2011 | $20.1B | 84 |
| Sanofi SA / Amunix Pharmaceuticals Inc. | 2021 | $1.2B | 76 |
| Sanofi SA / Genzyme Corporation | 2010 | $18.5B | 75 |
| Sanofi SA / Protein Sciences Corp. | 2017 | $650M | 72 |
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