Amid its ongoing efforts to invest in mRNA technology, Sanofi said Aug. 3 it will acquire clinical-stage mRNA therapeutics company Translate Bio.
The French drugmaker will acquire all outstanding shares of Translate Bio for $38 per share, representing a total value of about $3.2 billion.
"Translate Bio adds an mRNA technology platform and strong capabilities to our research, further advancing our ability to explore the promise of this technology to develop both best-in-class vaccines and therapeutics,” Sanofi CEO Paul Hudson said in a news release. "A fully owned platform allows us to develop additional opportunities in the fast-evolving mRNA space."
Mr. Hudson also said Sanofi is seeking to apply mRNA technology to areas other than vaccines, such as immunology, oncology and rare diseases.
Sanofi's plans to acquire Translate Bio come a month after the drugmaker announced it will invest $476 million each year in its new mRNA Center of Excellence.