Sanofi is to acquire Protein Sciences in a deal that could be worth up to $750m for the Connecticut, US-based biotech company.
In doing so Sanofi can add Protein Sciences’ flu vaccine Flublok, which was licensed in the US in 2013 and is currently the only recombinant protein-based influenza vaccine approved by the FDA.
David Loew, Sanofi executive vice president and head of its vaccines division Sanofi Pasteur, said: “The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine.”
Sanofi’s vaccines portfolio already includes the four-in-one influenza vaccine Fluzone Quadrivalent, which the FDA approved in June 2013. But the addition of Flublok brings a vaccine that can be used by those with egg allergies and has shorter production timelines than tradition vaccines.
Manon M.J. Cox, Protein Sciences’ president and CEO, added: “Protein Sciences was actively looking for an opportunity to grow its business, particularly in the US. As part of Sanofi Pasteur, we expect our Flublok influenza vaccine to benefit from Sanofi Pasteur’s expertise in the field of influenza vaccines.”
The acquisition has unanimous approval by Protein Sciences’ board of directors and a majority of the firm’s shareholders, and is expected to close in the third quarter of 2017.
At the start of this year Sanofi finalised the split of its long-standing vaccines alliance with Merck & Co, a move that came in the wake of poor sales growth at their Sanofi Pasteur MSD joint venture.
Its deal with Protein Sciences follows unsuccessful bids in the last year for Actellion, which it lost out to J&J, and Medivation after it was acquired by Pfizer.