July 11, 2017

Meriden's Protein Sciences to be acquired by Sanofi

HBJ File Photo
HBJ File Photo
Researchers and scientists developing Flublok at Protein Sciences.

Paris pharmaceutical company Sanofi is buying Meriden-based Protein Sciences for up to $750 million, the company announced Tuesday.

The acquisition marks a major milestone for Protein Sciences, a Connecticut homegrown bioscience company best known for its eggless flu vaccine.

Under the terms of the agreement, Sanofi said it will make an upfront payment of $650 million and pay up to $100 million upon achievement of certain milestones.

Last October, Protein Sciences received approval from the U.S. Food and Drug Administration for its protein-based flu vaccine Flublok, the only vaccine of its type to be approved by the FDA.

The acquisition allows Sanofi to broaden its flu portfolio with a non-egg based vaccine, said David Loew, Sanofi executive vice president and head of Sanofi Pasteur, Sanofi's vaccines division.

Manon M.J. Cox, Protein Sciences' CEO, said Flublok will benefit from Sanofi Pasteur's expertise in the field of influenza vaccines.

The acquisition, which has been approved by Protein's board and a majority of its shareholders, is expected to close in the third quarter of 2017.

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