Sanofi and Translate Bio to jointly produce mRNA Covid-19 vaccine
Category: #health  By Nikita Chaurasia  Date: 2020-06-25
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Sanofi and Translate Bio to jointly produce mRNA Covid-19 vaccine

French multinational pharmaceutical company Sanofi S.A. is reportedly expanding its collaboration with Translate Bio, a U.S-based mRNA therapeutics company to develop a wide range of messenger ribonucleic acid (mRNA) vaccines against Covid-19. The financial valuation of the new enhanced partnership deal is reported to be USD 2.8 billion.

For those uninitiated, Translate Bio is a leading company that offers mRNA technology which enables human cells to produce specific proteins which help in boosting the immunity system against specific diseases.

Sources close to the matter stated that the deal allows Sanofi to strengthen its position in the race to discover effective and safe vaccine for coronavirus, which has killed around 472,000 people across the globe.

The deal will also provide Sanofi up to 7.2 percent of the Translate Bio’s business as well as exclusive global rights to produce, manufacture, and distribute the vaccine, sources claimed.

Sanofi mentioned in a comment that it expects its mRNA-based Covid-19 vaccine to enter clinical trails by the end of the year, and if successful, will acquire regulatory approval by next year.

Translate Bio will evidently secure an upfront payment of around USD 425 million, which comprises of USD 300 million in cash and stocks worth USD 125 million, sources claimed.

The Massachusetts-based biotech company is also apparently eligible to avail the benefits from further potential milestones as well as other payments of around USD 1.9 billion. According to reliable sources, the deal will make Sanofi the fourth-largest shareholder of Translate Bio.

The two companies are also developing Covid-19 vaccine with Britain’s GlaxoSmithKline, which is expected to receive approval by first half of next year, cite sources.

In other news, China-based Chongqing Zhifei Biological Products publicized that it would soon begin its human trials for recently approved Covid-19 vaccine.

Source Credits –

https://www.straitstimes.com/world/europe/sanofi-in-28b-deal-with-us-firm-to-make-vaccines-amid-virus-fight

https://medcitynews.com/2020/06/sanofi-translate-bio-ramp-up-partnership-on-vaccines-translate-to-receive-up-to-2-3b/?rf=1

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Moderna failed to meet FDA’s requirements for COVID-19 booster vaccines

Moderna failed to meet FDA’s requirements for COVID-19 booster vaccines

By Nikita Chaurasia

Scientists from the U.S. Food and Drug Administration (FDA) claimed that Moderna did not meet all the requirements to support the use of COVID-19 booster shots. This is because the first two shots already showed a strong efficacy rate. Documents rel...

Canada’s healthcare sector likely to brace for looming staff shortages

Canada’s healthcare sector likely to brace for looming staff shortages

By Nikita Chaurasia

According to reliable sources, Canada’s overworked healthcare sector is now bracing for upcoming staff shortages and potential layoffs, as the country accelerates its vaccination drive before the deadline. The development comes at a time when l...

Rocket Lab, Kineis sign multi-launch contract for IoT constellation

Rocket Lab, Kineis sign multi-launch contract for IoT constellation

By Nikita Chaurasia

The space industry is booming as new companies with fresh ideas for space-based applications take advantage of declining launch and satellite costs. Out of those firms, Rocket Lab USA bagged a contract to launch 25 satellites on five missions exclusi...