Sanofi and Translate Bio Team Up to Work on a Coronavirus Vaccine
Sanofi (NASDAQ: SNY) and Translate Bio (NASDAQ: TBIO) are joining the crowd of companies searching for a vaccine for SARS-CoV-2, the coronavirus that causes COVID-19. That's a crowd that certainly can't have too many participants at this point in the pandemic.
The two companies have been working together since 2018, when Sanofi paid Translate Bio $45 million upfront to develop messenger RNA (mRNA) vaccines for up to five undisclosed infectious disease pathogens. The deal also included the potential for an additional $760 million in milestone and option exercise fees for Translate Bio, as well as tiered royalty payments.
The coronavirus vaccine partnership is a separate arrangement for which financial terms weren't disclosed.
Source Fool.com
