French pharmaceutical company Sanofi has reached an agreement to acquire UK-based Vicebio Ltd., which specialises in the development of vaccines against respiratory diseases.
According to the company’s press release, the total value of the deal could reach $1.6bn. Specifically, $1.15bn will be the initial payment, and Sanofi will pay up to $450m more depending on achieving certain milestones in clinical trials and regulatory approval.
The deal is expected to close in the fourth quarter of this year.
Vicebio’s main asset is a combination vaccine against respiratory syncytial virus and human metapneumovirus, which is under development.
Sanofi’s capitalisation has fallen by 12.2% to €100bn since the beginning of the year.