Sanofi has agreed to acquire Protein Sciences, a Meriden, Connecticut-based privately held vaccines developer and manufacturer, for an upfront payment of $650 million and up to $100 million upon achievement of certain milestones. 

Protein Sciences received approval from the US Food and Drug Administration in October 2016 for its Flublok Quadrivalent Influenza Vaccine (QIV), which is a recombinant protein-based influenza vaccine.

The acquisition, which has been unanimously approved by the board of directors of Protein Sciences and a majority of Protein Sciences shareholders, is expected to close in the third quarter of 2017, subject to customary regulatory approvals.

Source: Sanofi