Translate Bio Acquisition, Valuation, Funding & Investors

Translate Bio was acquired by Sanofi for $3.2B in August 2021, a 14.2x multiple on $225M of revenue.

Translate Bio acquisition price

$3.2B

Acquired by Sanofi · Aug 2021

Translate Bio revenue at acquisition

$225M

Last twelve months · Aug 2021

Translate Bio revenue multiple at acquisition

14.2x

EV/Revenue · Aug 2021

Translate Bio EBITDA multiple at acquisition

64.2x

EV/EBITDA · Aug 2021

Translate Bio Overview

About Translate Bio

Translate Bio is a Lexington-headquartered messenger RNA therapeutics company targeting rare diseases and protein dysfunction. Its pipeline includes cystic fibrosis candidates from the imRNA platform, partnered with Sanofi. Acquired by Moderna in 2021 for $1.9 billion, it advanced vaccines during COVID-19 trials. Originally founded as RaNA Therapeutics in 2011.


Founded

2011

HQ

United StatesLexington, KY

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Revenue

$225M (Aug 2021)

Valuation

$3.2B (acquired Aug 2021)

Translate Bio Acquisition

Translate Bio was acquired by Sanofi for $3.2B on 3 August 2021.

The acquisition price implies a 14.2x revenue and 64.2x EBITDA multiple on $225M of revenue.

Before the acquisition Translate Bio had raised $157M across 3 funding rounds.

Translate Bio acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
3 Aug 2021Strategic M&A$3.2B14.2x64.2x

Translate Bio Funding History

Translate Bio has raised a total of $157M across 3 funding rounds.

Translate Bio's first fundraising round was a $64M Series B in July 2015. The most recent completed round was a $42M Series C in December 2017.

Translate Bio funding rounds

Translate Bio funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2017Series CFidelity; The Baupost Group; Omega Funds$42MTranslate Bio, formerly RaNA Therapeutics, is a biotechnology company focused on messenger RNA (mRNA) therapeutics. It merged with RaNA LLC on December 19, 2017, with Translate Bio as the surviving entity. The company later went public via IPO on June 28, 2018, at a $560.65M valuation, and was acquired by Sanofi in a $3.2B deal on September 14, 2021. Translate Bio collaborated with Sanofi on mRNA technologies, including COVID-19 vaccines, leading to the acquisition to advance mRNA platforms globally.
Jan 2017Series CThe Baupost Group (lead); Fidelity; SR One; Atlas Venture; Omega Funds; MRL Ventures Fund$51MTranslate Bio, formerly RaNA Therapeutics, is a messenger RNA (mRNA) therapeutics company focused on genetic medicines, which merged with Translate Bio, Inc. in December 2017. Translate Bio went public via IPO on June 28, 2018 at $560.65M valuation and was later acquired peer-to-peer on September 14, 2021.
Jul 2015Series BFidelity (lead); MRL Ventures Fund (lead); The Baupost Group (lead)$64MTranslate Bio (formerly RaNA Therapeutics) is a clinical-stage mRNA therapeutics company focused on developing treatments using messenger RNA technology for diseases such as cystic fibrosis, rare pulmonary diseases, immunology, oncology, and infectious diseases. Translate Bio's pipeline included early-stage assets like cystic fibrosis candidates and discovery programs for pulmonary and liver diseases, leveraging its MRT platform for vaccines and therapeutics. The company raised funds across multiple rounds totaling $150.51M from 14 investors prior to its acquisition. The specific Series B round on July 23, 2015, involved investors Fidelity, MRL Ventures Fund, and The Baupost Group. A follow-on Series B-II occurred on July 30, 2015. Later funding included a Series C on January 5, 2017, and an IPO on June 28, 2018, with a valuation of $560.65M. Translate Bio partnered with Sanofi in 2018 for mRNA vaccines, expanded in 2020 with a $425M payment, and was fully acquired by Sanofi on September 14, 2021, for $38 per share, equating to approximately $3.2B equity value on a fully diluted basis. The Baupost Group remained a significant shareholder at the time of acquisition, committing to the tender offer alongside the CEO, representing about 30% of shares with Sanofi's holdings. Sanofi's acquisition integrated Translate Bio to bolster its mRNA Center of Excellence.

Who has invested in Translate Bio?

6 investors have backed Translate Bio across its funding rounds, including Fidelity, The Baupost Group, Omega Funds, MRL Ventures Fund, Atlas Venture and SR One.

Lead investors include The Baupost Group, Fidelity and MRL Ventures Fund.


Translate Bio Investors

Investors in Translate Bio by funding rounds participated
InvestorHQRoundsRoleFirst check
FidelityUnited StatesBoston, MA3LeadJul 2015
The Baupost GroupUnited StatesBoston, MA3LeadJul 2015
Omega FundsUnited StatesBoston, MA2ParticipantJan 2017
MRL Ventures FundUnited StatesUnited States2LeadJul 2015

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Translate Bio Competitors

Translate Bio competitors include listed companies like Denali Therapeutics, Hypera, Arcus Biosciences and Hebei Changshan, and private ones like Cytovant and Sinovac Life Sciences.

Public and private companies comparable to Translate Bio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Denali TherapeuticsUnited StatesUnited StatesPublicly listed-($541M)$3.2B91.5x
HyperaBrazilBrazilPublicly listed$1.5B$430M$3.2B2.6x
CytovantChinaShanghaiPrivate--$3.3B-
Arcus BiosciencesUnited StatesUnited StatesPublicly listed$247M($376M)$3.3B21.1x
Hebei ChangshanChinaChinaPublicly listed$130M($28M)$3.1B-
Sinovac Life SciencesChinaBeijingPrivate--$3.3B-

Translate Bio Public Comps

Translate Bio is no longer listed, but its public comps include Denali Therapeutics, Hypera, Arcus Biosciences, Hebei Changshan, Jiangsu Nhwa, Walvax Biotechnology, Tasly, Livzon Pharmaceutical Group, Jilin Aodong and Arcutis Biotherapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Denali Therapeutics-($541M)-91.5x(4.7x)(5.2x)
Hypera$1.5B$430M2.9x2.6x10.2x8.3x
Arcus Biosciences$247M($376M)10.8x21.1x(7.1x)(6.5x)
Hebei Changshan$130M($28M)27.0x-(123.7x)-
Jiangsu Nhwa$881M$202M3.1x2.9x13.5x13.3x
Walvax Biotechnology$361M$73M9.0x10.8x44.5x36.9x
Tasly$1.2B$265M2.2x2.1x10.2x9.2x
Livzon Pharmaceutical Group$1.8B$477M1.5x1.6x5.5x5.5x

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Common questions about Translate Bio

When was Translate Bio founded?Translate Bio was founded in 2011.
Where is Translate Bio headquartered?Translate Bio is headquartered in Lexington, KY, United States.
Is Translate Bio publicly listed?No, Translate Bio was acquired by Sanofi in August 2021.
Who acquired Translate Bio?Translate Bio was acquired by Sanofi in August 2021.
How much was Translate Bio acquired for?Translate Bio was acquired for $3.2B in August 2021, a 14.2x revenue multiple.
How much funding has Translate Bio raised?Translate Bio has raised $157M across 3 funding rounds.
What was Translate Bio's last funding round?Translate Bio's last funding round was a $42M Series C in December 2017.
Who are Translate Bio's investors?Translate Bio's investors include Fidelity, The Baupost Group, Omega Funds, MRL Ventures Fund, SR One and Atlas Venture.
Which companies are comparable to Translate Bio?Companies comparable to Translate Bio include Denali Therapeutics, Hypera, Cytovant, Arcus Biosciences, Hebei Changshan and Sinovac Life Sciences.

See companies similar to Translate Bio

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