By Sonia Amaral Rohter

Sanofi SA's (SAN.FR) vaccines division, Sanofi Pasteur, and SK Chemicals Co. Ltd. (285130.SE) have signed a licensing agreement for flu vaccine technology, SK Chemicals said on Monday.

Under the terms of the agreement, Sanofi Pasteur will pay SK Chemicals up to $155 million, including milestone payments, to license SK Chemicals's cell-culture based manufacturing technology for influenza vaccines.

Sanofi Pasteur is licensing the technology for use in its efforts to develop a broadly protective flu vaccine, SK Chemicals said. Broadly protective influenza vaccines are designed to protect against many different strains of the virus.

"We're pleased to license this innovative technology today, as it brings us a step forward in the development of a future broadly-protective influenza vaccine, a key priority for Sanofi Pasteur," said Sanofi Pasteur Chief Executive David Loew.

Sanofi Pasteur is the world's largest producer of influenza vaccine, according to its webpage.

Write to Sonia Amaral Rohter at sonia.amaralrohter@dowjones.com

(END) Dow Jones Newswires

February 12, 2018 12:21 ET (17:21 GMT)

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