China-based biotech firm Innovent Biologics Inc. (HKG: 1801) and France’s Sanofi SA (NASDAQ: SNY) have announced a license and collaboration agreement. Under the deal, Sanofi will license two of its drugs to Innovent for development in China, alongside Innovent’s PD-1 inhibitor Tyvyt (sintilimab). Sanofi will also invest EUR300 million (USD306 million) into Innovent to solidify their long-term partnership.
Drugs Involved
The two Sanofi drugs licensed to Innovent are:
- SAR408701 (tusamitamab ravtansine): A Phase III-stage antibody-drug conjugate (ADC) targeting carcinoembryonic antigen-related cell adhesion molecule 5 (CEACAM5), aimed at non-small cell lung cancer and gastric cancer.
- SAR444245: A Phase II-stage pegylated non-alpha interleukin-2 (IL-2) inhibitor.
Collaboration Details
Innovent will develop and commercialize the ADC tusamitamab ravtansine for any indications in China. Sanofi will receive up to EUR80 million (USD82 million) in development and approval milestones, plus royalties on future sales. For SAR444245, Innovent and Sanofi will jointly explore its development in various cancer types. Innovent will lead clinical development, while Sanofi remains the sole Marketing Authorization Holder and is fully responsible for future commercialization. Innovent will receive up to EUR60 million (USD61.2 million) in development and regulatory milestone payments, as well as royalties on future sales.
Investment
In addition to the initial EUR300 million equity investment in Innovent, Sanofi has the option to acquire a further EUR300 million tranche at a later date.-Fineline Info & Tech
