Sanofi (SNY) Acquires Tidal Therapeutics for $160M Upfront and Up to $310M in Milestones
- Wall St rebounds on tech boost after fewer jobless claims data
- Bitcoin Falls as Musk Says Tesla (TSLA) Will Suspend Vehicle Purchases Using Bitcoin, Citing Use of Fossil Fuels in Mining
- Alibaba (BABA) Misses Q4 EPS by 21c, Revenue Beats, Offers Guidance
- Amazon (AMZN), McDonald's (MCD) Join the Frenzy to Lure Entry-Level Employees Amid Shortage
- Dollar flat after more evidence of rising inflation
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Sanofi (NYSE: SNY) today acquired Tidal Therapeutics, a privately owned, pre-clinical stage biotech company with a novel mRNA-based approach for in vivo reprogramming of immune cells. The new technology platform will expand Sanofi’s research capabilities in both immuno-oncology and inflammatory diseases, while likely having broad applicability to other disease areas as well. Sanofi acquired Tidal Therapeutics for an upfront payment of $160 million and up to $310 million upon achievement of certain milestones. “We anticipate that this next generation, off-the-shelf approach has the potential to bring CAR-T cell therapy to a much broader patient population,” said Frank Nestle, Global Head of Research and Chief Scientific Officer at Sanofi. “We believe that the underlying mRNA targeting platform will create disruptive therapeutic approaches across a variety of oncology and autoimmune conditions.” Tidal Therapeutics utilizes a novel mRNA-based approach to in vivo reprogramming of immune cells. The technology is based on proprietary nanoparticles that deliver mRNA (messages) to reprogram immune cells inside the body. The technology delivers mRNA cargos selectively to designated types of cells in the body, with initial applications targeting specific types of immune cells. The in vivo approach is designed to provide similar efficacy to current ex vivo (outside the body) approaches where immune cells are genetically modified to enhance their therapeutic properties (such as chimeric antigen receptor [CAR]-expressing T-cells), with the potential for improved safety, outpatient dosing, and repeat dosing. Currently, Tidal Therapeutics has ongoing pre-clinical programs including in vivo re-programming of T cells or other types of immune cells for cancer indications.
“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,” said Ulrik Nielsen, President and CEO, Tidal Therapeutics.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lab Corp. (LH) announces FDA granted EUA for its Pixel COVID-19 PCR Test Home Collection Kit for ages 2-17
- Strongbridge Biopharma (SBBP) Announces FDA Filing Acceptance of NDA for RECORLEV for Treatment of Endogenous Cushing’s Syndrome
- Butterfly Network (BFLY) Reports Q1 Loss of $0.01 on Revenues of $12.4M; Provides FY21 Revenues Outlook
Create E-mail Alert Related CategoriesCorporate News, FDA, Mergers and Acquisitions, Private Company News
Related EntitiesNew Enterprise Associates, Earnings, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!