Sanofi is acquiring Protein Sciences, a US-based privately held vaccines biotechnology company, for $650 million.
On top of the upfront payment, and as per the agreement, Sanofi will also pay up to $100 million in milestones payments.
Protein Sciences received US FDA approval for its Flublok Quadrivalent Influenza Vaccine in October last year. It is the only recombinant protein-based influenza vaccine approved by the regulator.
“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 – the company’s vaccines division.
The acquisition is expected to close in the third quarter of 2017.