Regulus Therapeutics Gets $5 Million Milestone, Material Payments from Sanofi
October 13 2020 - 8:50AM
Dow Jones News
By Chris Wack
Regulus Therapeutics Inc. said Tuesday it received a total of $5
million in milestone and material payments from Sanofi.
The biopharmaceutical company said that as outlined in a recent
amendment to its term loan agreement with Oxford LLC, it used the
proceeds to pay down $5 million in principal outstanding, reducing
the remaining principal due under the term loan to $9.6
million.
In August, Regulus Therapeutics entered into an amendment with
Sanofi concerning the receipt of potential milestones from Sanofi
for its development of miR-21 programs. Under the terms of the
amendment with Sanofi, Regulus Therapeutics was eligible to receive
$4 million upon the completion of transfer and verification of
certain materials valued at an additional $1 million sold to
Sanofi.
In addition to this payment of $5 million received, the company
is eligible to receive an additional $5 million upon achievement of
the interim enrollment milestone and $25 million upon the
achievement of the development milestone.
Regulus Therapeutics shares were up 10% to 57 cents in premarket
trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 13, 2020 08:35 ET (12:35 GMT)
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