Sanofi pays $300m upfront to expand deal with Translate Bio
Sanofi Pasteur and Translate Bio have agreed to expand their existing 2018 collaboration and license agreement to develop mRNA vaccines for infectious diseases.
Under the expanded deal, Translate Bio will receive a total upfront payment of $425 million, consisting of a $300 million cash payment and a private placement common stock investment of $125 million at $25.59 per share, representing a 50% premium to the 20-day moving average share price prior to signing.
Translate Bio will also be eligible for potential future milestones and other payments up to $1.9 billion, including $450 million of milestones under the 2018 agreement.
Of these, around $360 million are anticipated over the next several years, inclusive of COVID-19 vaccine development milestones, and Translate Bio is also eligible to receive tiered royalty payments on worldwide sales of any vaccines making it to market.
Read more: https://bit.ly/3fQe0rA
Under the expanded deal, Translate Bio will receive a total upfront payment of $425 million, consisting of a $300 million cash payment and a private placement common stock investment of $125 million at $25.59 per share, representing a 50% premium to the 20-day moving average share price prior to signing.
Translate Bio will also be eligible for potential future milestones and other payments up to $1.9 billion, including $450 million of milestones under the 2018 agreement.
Of these, around $360 million are anticipated over the next several years, inclusive of COVID-19 vaccine development milestones, and Translate Bio is also eligible to receive tiered royalty payments on worldwide sales of any vaccines making it to market.
Read more: https://bit.ly/3fQe0rA
