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Sanofi, Translate Bio expand partnership with $2B vaccine deal
Sanofi will expand its partnership with Translate Bio in a deal worth $2 billion to develop a coronavirus vaccine that utilizes messenger ribonucleic acid technology. As part of the deal, Sanofi will gain exclusive global rights for the development, manufacture, and commercialization of infectious disease vaccines using Translate's technology as well as an estimated 7.2% of Translate Bio shares, while the latter will be eligible for an upfront payment of $425 million consisting of a common stock investment and cash. Reuters (6/23)
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