Sanofi to Acquire Tidal Therapeutics for $470 Million
The deal will give Sanofi access to Tidal’s novel mRNA-based approach for in-vivo reprogramming of immune cells, which will expand Sanofi’s research capabilities in immuno-oncology and inflammatory diseases.
Sanofi announced on April 9, 2021 that it has acquired Tidal Therapeutics, a US-based pre-clinical stage biotech company, for $470 million.
Under the terms of the agreement, Sanofi will provide an upfront payment of $160 million and up to $310 million upon achievement of certain milestones, Sanofi said in a company press release. The deal will also give Sanofi access to Tidal’s novel messenger RNA (mRNA)-based approach for in-vivo reprogramming of immune cells, which will expand Sanofi’s research capabilities in immuno-oncology and inflammatory diseases.
“We anticipate that this next-generation, off-the-shelf approach has the potential to bring CAR-T cell [chimeric antigen receptor T cell] therapy to a much broader patient population,” said Frank Nestle, global head of Research and chief scientific officer at Sanofi, in the press release. “We believe that the underlying mRNA targeting platform will create disruptive therapeutic approaches across a variety of oncology and autoimmune conditions.”
“Teaming up with Sanofi gives us the opportunity to further develop our unique platform and rapidly apply it to ultimately help patients across a range of diseases,” added Ulrik Nielsen, president and CEO, Tidal Therapeutics, in the press release.
Source: Sanofi
