Sanofi completes acquisition of Translate Bio, accelerating the application of mRNA in new vaccines and therapeutics

Latest pharma news update

Sanofi announced today the completion of its acquisition of Translate Bio, further accelerating the company’s efforts to develop transformative vaccines and therapies using mRNA technology. The acquisition adds a critical pillar to the company’s mRNA Center of Excellence which aims to unlock the potential of next-generation mRNA vaccines and other strategic areas such as immunology, oncology, and rare diseases.

The tender offer for all of the outstanding shares of Translate Bio common stock expired as scheduled at one minute after 11:59 p.m., Eastern Time, on Monday, September 13, 2021. The minimum tender condition and all of the other conditions to the offer have been satisfied and on September 14, 2021, Sanofi accepted for payment and will promptly pay for all shares validly tendered and not validly withdrawn.

Following its acceptance of the tendered shares, Sanofi completed its acquisition of Translate Bio through the merger of a wholly owned subsidiary of Sanofi with and into Translate Bio, pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, with Translate Bio continuing as the surviving corporation and becoming an indirect, wholly owned subsidiary of Sanofi.

In connection with the merger, all Translate Bio shares not validly tendered in the tender offer have been converted into the right to receive the same $38 per share in cash, without interest thereon and net of any applicable withholding taxes, that would have been paid had such shares been validly tendered in the tender offer. As of September 14, 2021, Translate Bio common stock will cease to be traded on the NASDAQ Global Select Stock Market.

Morgan Stanley & Co. International plc acted as exclusive financial advisor to Sanofi while Weil, Gotshal & Manges LLP acted as legal counsel. Centerview Partners acted as lead financial advisor to Translate Bio in the transaction, while Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel. Evercore also acted as a financial advisor in this transaction to Translate Bio. MTS Health Partners, LP also gave financial advice to Translate Bio.

Tags : #Sanofi #TranslateBio #MrnaVaccine

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-


Trending Now

CDSCO has approved Boehringer Ingelheim's Jardiance for the treatment of heart failure.May 20, 2022
Hanuman raises over $.5 million to expand its emergency medical response services in Bihar, Jharkand and UP May 20, 2022
Sudden Infant Death Syndrome (SIDS) – Causes and preventive methodsMay 20, 2022
Healthcare Innovation Challenge: Data's Expanding Role in the Healthcare SectorMay 20, 2022
Homeopathy in Pregnancy - Homeopathy Treatment | MedicircleMay 20, 2022
MetroMedi launches the MetroMedi Relief platform for mental and sexual health wellbeing.May 20, 2022
Top Health Benefits for Butter milk May 20, 2022
Sumit Agarwal- Born with Cerabral Palsy to today being an acclaimed entrepreneur in the public relations industry in IndiaMay 20, 2022
Five eye hospitals in the Tri-city region have been acquired by Dr. Agarwal's Eye Hospital.May 19, 2022
World Family Doctor Day, 2022 – Family doctor makes care easily accessible May 19, 2022
Adani Enterprises will explore the healthcare industry.May 19, 2022
Tips for Weight Loss May 19, 2022
What should be the diet during menopause? May 19, 2022
5 Tips To Get Rid Of Cracked Heels In SummerMay 19, 2022
How is meditation beneficial in reducing low blood pressure?May 18, 2022
Why should we not eat mushrooms because of kidney disease? May 18, 2022
Zinc Deficiency Symptoms in the BodyMay 18, 2022
Dawaa Dost : Making drugs more accessible and affordable.May 18, 2022
Control and Manage HIV with ART therapy - MedicircleMay 18, 2022
Top 5 Solutions for Hair Detox May 17, 2022