Sanofi Buys Biotech Startup Tidal Therapeutics for Initial $160 Million

By Colin Kellaher

Sanofi SA on Friday said it has acquired Tidal Therapeutics, a preclinical-stage biotech startup using a novel mRNA-based approach for in-vivo reprogramming of immune cells, for an initial $160 million.

The Paris pharmaceutical giant said it could make up to an additional $310 in milestone payments as part of the deal, which it said expands its research capabilities in immuno-oncology and inflammatory diseases.

Sanofi said Tidal, based in Cambridge, Mass., uses a technology based on proprietary nanoparticles that deliver mRNA to reprogram immune cells inside the body. Tidal's current preclinical programs include in-vivo reprogramming of T-cells or other types of immune cells for cancer indications.

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(END) Dow Jones Newswires

04-09-21 1416ET