Sanofi to buy Vicebio for up to US$1.6 billion in vaccine push
The French drugmaker will pay US$1.15 billion upfront with a commitment for potential milestones worth as much as US$450 million, it said in a statement on Tuesday (Jul 22).
Chief executive officer Paul Hudson is looking for innovation that fits with Sanofi's existing offerings, and Vicebio's experimental shots are intended to prevent several respiratory illnesses including RSV, the target of its new therapy Beyfortus.
The deal is expected to close in the fourth quarter, and won't have a significant impact on Sanofi's financial guidance for the year, the company said.
The transaction helps Sanofi get closer to making next-generation vaccines that offer protection against multiple respiratory viruses in a single shot that isn't mRNA – the technology behind the blockbuster Covid-19 immunisations.
Vicebio's technology allows quicker development of liquid combination vaccines that can be stored at fridge temperatures, simplifying manufacturing and distribution by eliminating the need for freezing. The company is working on a single shot against RSV and human metapneumovirus, or hMPV, which is in an exploratory early-stage study.
Like several rivals, Sanofi is focusing on cutting-edge therapies while divesting older medicines and its consumer-health division. BLOOMBERG
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Business Times
34 minutes ago
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Digital Core Reit H1 DPU unchanged at US$0.018
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New Paper
an hour ago
- New Paper
Young and rooted: Meet S'pore's first-gen farmers who are changing the agri game
Mr Leonard Teo developed a love for greens as a boy, but often found locally bought vegetables harsh on his palate. "They had a bitter taste, and my mother ended up buying expensive organic vegetables for me," said the owner of Straits Agriculture, a five-year-old aeroponics and hydroponics farm in Jurong that produces xiao bai cai, nai bai, curly kale and mizuna, among others. "I thought, why not try to grow fresh and sweet-tasting vegetables so that I can eat them and Singaporeans can also purchase them at an affordable price?" The Nanyang Technological University graduate's dream took off in 2020, when he rented a 35 sq m plot of land for about $20,000 in Henderson to start his venture. After stabilising his operations, he later invested in a rooftop farm in Jurong that cost him $250,000 to set up in January 2022. While the Singapore Food Agency (SFA) does not track the number of first-time farmers in the country, Mr Teo, 25, is one of the three young farmers who ventured into the agricultural sector during Covid-19. Mr Teo, who entered university the same year, struggled to balance school and work. "There was no juggling. I woke up at 8am, went to class till 6pm and headed to my farm to work till about 3am. It was either do or die," said Mr Teo, who graduated in 2025 with a degree in aerospace engineering. Mr Leonard Teo, 25, runs an aeroponics and hydroponics farm in Jurong. ST PHOTO: LIM YAOHUI Mr Teo's mother, Ms Eileen Tan, who helps deliver the vegetables to his customers, said she feels bad that he has to work so hard, but is glad that this venture has built his character. "I'm pretty proud of what he has accomplished so far," she said. A desire to contribute Two other first-time farmers also ventured into the trade after witnessing the impact of Covid-19 on food security in Singapore, which imports more than 90 per cent of its food. While the country's key strategy is to diversify its sources, then Minister for Trade and Industry Chan Chun Sing said in a written parliamentary reply in April 2020 that the pandemic had "severely diminished global production capacities and disrupted global supply chains". This prompted Mr John Ong, founder of Spore Gardens, a farm that produces mushrooms in a 130 sq m office space in Whampoa, to make the switch from aerospace engineering to farming. "Many people were panic buying during the pandemic, and while doing my own shopping, I noticed that there was a shortage of fresh produce at the supermarkets, and later realised that Singapore may have a supply chain issue in this area," he said. Mr Ong grows a variety of mushrooms in his farm, including the Lion's Mane, Royal Trumpet, Golden Oak Shitake, Sakura Pink Oyster, Golden Yellow Oyster and Yanagi Matsutake. ST PHOTO: TARYN NG After some research, the 40-year-old, who described himself as an "accidental" farmer, opted to focus on producing mushrooms, which he felt was overlooked. He started to grow Lion's Mane mushrooms at home before investing $100,000 to kick-start the business officially. Five years on, the father of two young children, aged three and six, said he was grateful that his wife, a dermatologist, supported him making the switch then. Mr Ong, who grows six or seven types of mushrooms at his farm, supplies about 1,000kg of mushrooms to restaurants and caterers each month. He is in the midst of moving to a new 380 sq m farm in Changi, which is about three times larger than his original space. The entrepreneur, who now runs the farm with his partner, Mr Fred Soh, said sales have been doing well and the company broke even early in 2025. Mr John Ong met his business partner, Mr Fred Soh, about eight months after he founded Spore Gardens. ST PHOTO: TARYN NG Another farmer whose business appears to have taken off is Mr Webster Tham, 34, from Tomato Town, a business that grows tomatoes, kale and basil. Mr Tham, who runs the farms with two other partners, said the trio started by managing a 75 sq m plot. This has grown to a 6,000 sq m plot in the last five years. Their produce can be found in 70 FairPrice outlets, where they are priced between $4 and $4.50 per packet. One of Mr Tham's farms is located at a rooftop carpark in Jurong West. ST PHOTO: GIN TAY A spokesperson for FairPrice said it has observed a significant increase in demand for Tomato Town's products across its stores over the last six months, compared with the same period in 2024. Mr Tham hopes his experience can encourage young people not to shy away from the industry. "Farming is still hard work, but technology is there to reduce some of the laborious tasks traditional farmers have to take on. We hope young people give it a chance," he said. Fresh perspectives Despite the efforts of new entrants, local production remains at less than 10 per cent of the country's total food consumption. While these farms remain small in scale, their true contribution lies in the innovations they bring to the agri-food sector, said research scientist Teo Shaun Hao. "By developing and testing new farming methods, technologies, and crop varieties suited for urban environments, they help push the boundaries of what is possible in land-scarce Singapore," said Mr Teo, who works at the Agriculture Research and Innovation Centre at Republic Polytechnic. Young farmers' savviness in leveraging social media platforms also helps them to connect directly with consumers, allowing them to build trust and promote their products more effectively, he added. However, Professor Veera Sekaran from the National University of Singapore's Department of Biological Sciences remained cautious about the value of those skills. "No amount of social media is going to help the farmers if they do not understand the industry and the reality of the business of growing crops and bringing them to the marketplace to make profits," said the director of Regenerative Agritech Centre. Challenges remain Since 2019, Singapore has aspired to produce 30 per cent of its nutritional needs locally by 2030, but it was revealed in Parliament in March that the target is being reviewed. In 2024, 3 per cent of vegetables consumed were grown locally, down from 3.2 per cent in 2023, according to the Singapore Food Statistics report. In the same year, there were 153 farms on land - most of which grew vegetables - down from 156 the year before. In an interview with The Straits Times in May, SFA chief executive Damian Chan said the drop in local production of vegetables is due to factors like higher operating costs, especially energy costs, a weaker investment climate in high-tech farming and farms facing challenges in securing sales. He added that local produce typically costs more than imported ones, and shoppers tend to opt for more affordable leafy greens and fish, affecting demand. Besides the challenges highlighted by SFA, the farmers hope the authorities can also look into reducing the administrative barriers that impede others' entry into the industry. Mr Teo from Straits Agriculture proposed a one-stop service portal to be set up for farmers to submit their applications for various licences, a sentiment echoed by Mr Ong. "This will allow us to focus on the operations of the farm," he said. Mr Teo proposed a one-stop service portal to be set up for farmers to submit their applications for various licences. ST PHOTO: TARYN NG While SFA did not say if it is considering setting up a one-stop service portal, it has put in place other measures, including customising solutions via its Technical Advisory Programme and developing industry guides to help farmers understand how to set up land-based and sea-based farms. Farmers can also tap the GoBusiness portal to apply for grants and additional licences to sell or process their produce, such as by turning them into salads or fish fillets, added SFA. What keeps them going Despite the challenges, the farmers said they are buoyed by the support they receive from their families and customers. "When chefs tell me that the items we provide are some of the best mushrooms they've used, that really puts a smile on my face," said Mr Ong. Sakura Pink Oyster mushrooms, which have a subtly woody taste with a hint of seafood and a peppery finish, are one type of mushrooms Mr Ong supplies to restaurants. ST PHOTO: TARYN NG Mr Teo, who is funded by a European investor and earns a mid four-figure sum for the farm each month, shared similar views. One of his long-time customers, who has been buying his vegetables since her family discovered his farm in 2022, even sent her teenage daughter to his farm to experience what it is like to run a farm, a gesture that he appreciated. For Mr Tham, it was his father Ray Tham's gesture of love that kept him thriving. "He touched me by deciding to take up a diploma in agriculture at RP to help me out at the farm," he said. Mr Tham's father, Mr Ray Tham, helps his son maintain his farms. ST PHOTO: GIN TAY The older Mr Tham, who initially doubted his son's venture, later decided to support him by assisting with maintenance work at the farms. An engineer by training, the 67-year-old manager of the farms is happy to see his son's business take off. "It is not very successful yet, but I'm proud to see some success," he said. Next steps Having solved his initial hurdles, Mr Tham hopes to increase his production by maximising the growth of his plants. "We're looking into ways to develop a suitable temperature that will 'trick' our plants into thinking that they are in a cooler climate in order to boost growth," he said, adding that his farms currently produce 3 tonnes of leafy greens monthly. Mr Tham grows kale, basil and tomatoes at his farms. The Straits Times Similarly, Mr Ong looks to expand the variety of mushrooms in his new farm and eventually supply them to wet markets and supermarkets. Mr Ong (left) and Ms Audrey Chong, head of marketing of Spore Gardens, travel to different farmers' markets around Singapore to sell their produce. ST PHOTO: TARYN NG For Mr Teo, he is considering moving his farm out of Singapore to places that are more cost- and infrastructure-friendly to continue with his business once his lease is up in 2028. "But before that, I hope to be able to work with the authorities to reduce the amount of admin work that our farmers need to do and focus on increasing our yield to be effective in contributing to our country's food security situation."
Straits Times
an hour ago
- Straits Times
Billionaire Thomson family to buy $43m luxury London apartment
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