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Telesis Bio Inc. develops DNA and mRNA synthesis solutions for therapeutic discovery, using automated systems and enzymatic synthesis technology that support on-site biofoundry workflows. Company news centers on the Gibson SOLA platform, BioXp systems, mRNA synthesis offerings, and customer adoption in areas such as biologics drug discovery, vaccine and therapeutic development, genome editing, and cell and gene therapy.
Recurring updates also include licensing agreements, laboratory automation collaborations, private financing activity, financial results, restructuring effects, and capital-market actions such as reverse stock splits and trading-status changes. The company has described a commercial focus on Gibson SOLA and BioXp mRNA solutions while reporting product, collaboration, service, and royalty revenue categories.
Translate Bio and Sanofi Pasteur have expanded their collaboration to develop mRNA vaccines for infectious diseases, building on a 2018 agreement. Translate Bio will receive $425 million upfront, comprising $300 million in cash and a $125 million stock investment, plus potential milestone payments up to $1.9 billion. Sanofi gains exclusive rights to develop and commercialize these vaccines. The partnership combines Translate Bio's mRNA technology with Sanofi's vaccine expertise, aiming for a first-in-human clinical trial for a COVID-19 vaccine by late 2020 and further vaccine programs against influenza and other pathogens.
Translate Bio (Nasdaq: TBIO), a clinical-stage mRNA therapeutics company, has announced that CEO Ronald Renaud will participate in a fireside chat at the Bank of America Securities Virtual 2020 Health Care Conference on May 14, 2020, at 9:00 a.m. ET. This session will be available via live webcast on the Company's website, with a replay accessible for 30 days after the event.
Translate Bio is notably focused on developing transformative medicines for diseases linked to protein dysfunction, including a lead program targeting cystic fibrosis currently in a Phase 1/2 clinical trial.
Translate Bio (Nasdaq: TBIO) announced financial results for Q1 2020, reporting a net loss of $14.3 million compared to $33.2 million in Q1 2019. The collaboration with Sanofi Pasteur to develop an mRNA COVID-19 vaccine is ongoing, with multiple candidates in evaluation for clinical trials set to start in Q4 2020. The company ended the quarter with $155.1 million in cash and expects funding to last into Q3 2021. Collaboration revenue rose to $4.7 million driven by increased activities. Operating expenses decreased to $19.4 million, reflecting ongoing vaccine program advancements.