Vaccines deal with Sanofi to propel Translate Bio’s mRNA therapeutics platform
Expanded deal provides validation for mRNA platform, $425M up front to advance in-house pipeline
An expanded deal with Sanofi for vaccines gives Translate Bio a vote of confidence for its mRNA platform, along with $425 million up front that will help the biotech evaluate new therapeutic targets for its internal pipeline while advancing its clinical and preclinical therapeutic programs.
Shares of Translate Bio inc. (NASDAQ:TBIO) touched an all-time high on the news, peaking at $27.24 on Tuesday before ending the day up $7.63 (47%) to $23.87. Its market cap at close was almost $1.5 billion.
The announcement came in tandem with an R&D day for