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Investing.com -- French pharmaceutical company Sanofi (EPA:SASY) has agreed to purchase U.K.-based vaccine developer Vicebio in a deal worth up to $1.6 billion, the company announced Tuesday.
The acquisition includes an upfront payment of $1.15 billion, with potential additional payments of up to $450 million tied to specific development and regulatory milestone achievements.
Through this purchase, Sanofi aims to enhance its respiratory vaccines pipeline by adding two early-stage vaccine candidates targeting respiratory syncytial virus and human metapneumovirus.
The deal will also give Sanofi access to Vicebio’s molecular clamp technology, which enables the immune system to more effectively recognize and respond to viral proteins.
Sanofi expects the transaction to close in the fourth quarter, subject to customary closing conditions.
The company stated that the acquisition will not significantly impact its full-year financial guidance.