Innovent Entered into a Collaboration and License Agreement with Sanofi to Advance Development of Therapies for Cancer in China
Shots:
- Sanofi will invest $307.88M in Innovent to develop 2 Sanofi oncology assets incl. SAR408701 & SAR444245 at $42.42/share representing a premium of ~20% at 30-day avg. share price. Both companies will jointly develop SAR444245 in China
- Innovent will lead the development & exclusive commercialization of tusamitamab in multiple oncology-based indications in China. Sanofi will receive ~$81.8M in development milestones along with royalties on net sales of SAR408701 upon approval
- Sanofi will be the marketing authorization holder for both products & will be responsible for SAR245 commercialization. Innovent to receive ~60M in development milestones along with royalties on the net sales of SAR444245
Ref: GlobeNewswire | Image: Sanofi
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