- Innovent Biologics Inc IVBXF and Sanofi SA SNY have collaborated to develop and commercialize two Sanofi clinical-stage oncology assets - Phase 3 SAR408701 and Phase 2 SAR444245 combined with sintilimab.
- In addition to the collaboration and license agreement, Sanofi will invest €300 million in Innovent through the subscription of new common shares.
- SAR408701 (tusamitamab ravtansine) is an antibody-drug conjugate (ADC) targeting a cell-surface glycoprotein that is highly expressed in non-small cell lung cancer (NSCLC), gastric cancer, and other cancers.
- SAR408701 is currently in a Phase 3 study for second-line NSCLC and global Phase 2 studies in additional indications, including first-line NSCLC, gastric cancers, and other solid tumors.
- Innovent will be responsible for developing and exclusively commercializing tusamitamab in multiple oncology-based indications in China.
- Sanofi will receive up to €80 million in development milestone payments and royalties.
- SAR444245 is currently under Phase 2 studies for skin cancers, gastrointestinal cancer, NSCLC / mesothelioma, head & neck tumors, and lymphoma.
- Innovent and Sanofi will jointly explore the development of SAR444245 in China in various cancer types, where Innovent will lead the clinical development.
- Sanofi remains the sole Marketing Authorization holder for both assets and will be fully responsible for SAR245 commercialization.
- Innovent will receive up to €60 million in development milestone payments and royalties.
- Price Action: SNY shares are up 0.78% at $49.22 during the market session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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