Sanofi, Innovent Biologics to Collaborate on Oncology Medicines in China
05 August 2022 - 2:36AM
Dow Jones News
By Stephen Nakrosis
Sanofi and Innovent Biologics Inc. said Thursday they will
collaborate to "accelerate development of oncology medicines and
expand presence in China."
As part of the deal, Sanofi is making an initial equity
investment of EUR300 million in Innovent, the companies said.
The companies will work to develop and commercialize Sanofi's
Phase III SAR408701 and Phase II SAR444245. Under the terms of the
deal, Innovent will be responsible for developing and exclusively
commercializing SAR408701, or tusamitamab ravtansine, in multiple
oncology-based indications in China, the companies said. Sanofi
said it will be "entitled to receive up to EUR80 million
development milestone payment and royalties on the net sales of the
product in China upon approval."
Innovent and Sanofi will also jointly explore the development of
SAR444245, or non-alpha IL-2, in China in various cancer types,
with Innovent leading the clinical development. "Innovent will be
entitled to receive up to EUR60 million development milestone
payments and royalties on the net sales of the product in China
upon approval," according to the companies.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
August 04, 2022 12:21 ET (16:21 GMT)
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