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Sanofi commits to €400m annual investment in mRNA vaccines – BioPharma-Reporter.com

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The annual investment of €400m (US$473m) will focus on the establishment of a vaccine mRNA Center of Excellence. The center will host approximately 400 employees and will contain teams across R&D, digital, and chemistry, manufacturing and controls (CMC).

The center will be located across two different sites, Cambridge, Massachusetts in the US, and Marcy, in France. Employees brought in to work at the sites will be staff members from within the company, with the addition of external new hires, “to meet needs in specific areas of expertise,”​ a spokesperson told BioPharma-Reporter.

According to the spokesperson, €400m will be invested annually because it is regarded as a “long-term play”​, with the ambition being to establish six clinical targets by 2025.

The company has already made headway in the mRNA field, after establishing and extending its collaboration with Translate Bio​, which had been formed to address ‘current and future infectious diseases.’

Only the week prior to Sanofi’s investment decision, the partners were able to initiate Phase I clinical trials for their mRNA seasonal flu vaccine that had previously been announced as part of their collaboration.

Looking beyond the pandemic

The catalyst for Sanofi’s renewed focus on mRNA vaccines, according to Jean-Francois Toussaint, global head of R&D at Sanofi, had been the success of mRNA vaccines during COVID-19 pandemic, where they had “demonstrated potential to deliver new vaccines faster than ever before.”

Technically, Sanofi has already played a role in the success of the mRNA vaccines and their distribution to patients during the pandemic. The company partnered with both Moderna and BioNTech to support the manufacture of mRNAvaccines​ from Europe.

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Canada Sets Plan to Merge Investment Regulators Into One Agency – Bloomberg

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Canada’s securities regulators plan to merge two industry groups that oversee financial advisers into a single organization, a move intended to address years of complaints about the overlapping roles and higher costs of the groups.

Provincial regulators published Tuesday a framework for how to combine the Investment Industry Regulatory Organization of Canada, which regulates investment advisory firms that sell a broad range of securities, with the Mutual Fund Dealers Association of Canada, which oversees firms that sell funds.

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Carlyle to Invest in Abrigo at $1 Billion-Plus Valuation – Bloomberg

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Abrigo, an Accel-KKR-backed software provider for financial institutions, has secured an investment from private equity firm Carlyle Group Inc.

The Austin, Texas-based company is valued at more than $1 billion after the investment, according to people with knowledge of the matter who asked not to be identified discussing private information.

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Canada plans to merge investment regulators into one agency – Financial Post

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Move aims to address years of complaints about the overlapping roles and high costs

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Canada’s securities regulators plan to merge two industry groups that oversee financial advisers into a single organization, a move intended to address years of complaints about the overlapping roles and higher costs of the groups.

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Provincial regulators published Tuesday a framework for how to combine the Investment Industry Regulatory Organization of Canada, which regulates investment advisory firms that sell a broad range of securities, with the Mutual Fund Dealers Association of Canada, which oversees firms that sell funds.

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They also plan to merge two existing investor protection funds into a new one that’s independent of the expanded regulatory body.

Among other things, IIROC and MFDA levy fines and other penalties on individual financial advisers who break the rules.

IIROC oversees about 175 firms, including full-service investment dealers such as BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc., while the MFDA supervises about 90 mutual fund dealers, such as CIBC Securities Inc. and National Bank Investments Inc. Some financial firms are forced to be members of both agencies because their employees hold different licences for selling investment products.

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Combining the staffs of the two bodies “will be critical during the creation of the new self-regulatory organization and investor protection fund, and will be crucial to their future success,” Louis Morisset, the chair and president of Canadian Securities Administrators, said in a statement. The CSA is an umbrella group of Canada’s provincial securities watchdogs.

In late 2019, the CSA began studying the existing framework. It created a working committee to determine the structure of the new organization and oversee the integration of the two groups. The review prompted both the MFDA and IIROC to publish their own proposals.

The combination is aimed at saving costs for investment dealers while aligning and streamlining their processes, the CSA said. A majority of the new organization’s board members and its chairperson will be independent, and the group will be required to solicit CSA comment on its priorities, business plan and budget, according to a statement.

The CSA will also consider the possibility of incorporating additional registration categories into the newly minted entity.

Bloomberg.com

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