Translate Bio and Sanofi’s COVID-19 Vaccine Positive in Animal Studies
Excerpt from the Article:
In a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Translate Bio indicated that the COVID-19 vaccine it is developing with Paris-based Sanofi induced an immune response in non-human studies. The companies expect to begin human clinical trials in November.
On June 23, Sanofi Pasteur, the vaccines business unit of Paris-based Sanofi and Lexington, Massachusetts-based Translate Bio, announced the expansion of an existing collaboration to develop mRNA vaccines for infectious diseases. The original deal was entered in 2018.
Under the new deal expansion, Sanofi paid Translate Bio $425 million up front, with $300 million in cash and $125 million a private placement common stock investment at $25.59 per share, a 50% premium on the 20-day moving average share price before signing. Translate Bio will be eligible for possible milestones and other payments up to $1.9 billion, which includes $450 million that fell under the 2018 agreement.
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