Sanofi Signs Agreement with Principia Biopharma for MS Drug Candidate
November 09 2017 - 7:29AM
Dow Jones News
By Sonia Amaral Rohter
Sanofi SA (SAN.FR) on Thursday said that it has signed a license
agreement with Principia Biopharma Inc. to develop an experimental
oral treatment for multiple sclerosis, or MS, as part of its
efforts to expand its MS franchise.
Under the terms of the deal, Sanofi will be granted an
exclusive, worldwide license to develop and commercialize the drug,
which is currently under clinical development. Sanofi will make an
upfront payment of $40 million to Principia, and Principia will
receive future milestone payments of up to $765 million as well as
royalties on product sales.
According to the company, the drug candidate, referred to as
PRN2246, shows promise in treating MS, a chronic inflammatory
disorder of the central nervous system that affects over 2.5
million people worldwide. Principia has recently initiated a phase
1 trial of PRN2246 in healthy volunteers, according to the
release.
Sanofi already has two MS medicines on the market, Aubagio and
Lemtrada, as well as an in-house research and development program
to address MS and other neurological diseases.
"Our agreement with Principia is an example of Sanofi's
strategic commitment to build our drug discovery and development
pipeline in MS and neurological diseases," says Rita Balice-Gordon,
global head of the company's MS/neuroscience therapeutic research
area. "Complementing our own internal R&D expertise, external
relationships like this may accelerate delivery of new treatments
to patients living with these serious diseases."
The transaction, which is subject to customary regulatory
approvals, is expected to close in the fourth quarter.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
November 09, 2017 07:14 ET (12:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Sanofi (NASDAQ:SNY)
Historical Stock Chart
From Apr 2024 to May 2024
Sanofi (NASDAQ:SNY)
Historical Stock Chart
From May 2023 to May 2024