Sanofi In-Licenses Preclinical Genetic Disease Candidate From An Unknown Biotech

French pharma major Sanofi SA SNY entered into a collaboration and licensing agreement with little-known U.S. biotech miRecule, an innovator of next-generation RNA therapeutics.
Under the terms of the deal, Sanofi will develop and commercialize a best-in-class antibody-RNA conjugate (ARC) for facioscapulohumeral muscular dystrophy (FSHD).
Sanofi is getting exclusive worldwide rights for the program, known as MC-DX4, while miRecule gets upfront and near-term milestones of about $30 million.
Additional biobucks could bring the deal's total value to nearly $400 million.
FSHD is the second most common type of muscular dystrophy – affecting more than one million individuals worldwide.
Patients with causative genetic mutations experience lifelong deterioration of muscle function and progressive disability.
Related: Amid RNA Setbacks, Start-Up Bets On Sanofi's siRNA Platform.
The collaboration will combine miRecule's anti-DUX4 RNA therapy (discovered through its proprietary DREAmiR platform) with Sanofi's proprietary muscle-targeted NANOBODY technology to join the two molecules into an ARC utilizing miRecule's NAVIgGator conjugation and formulation chemistry.
The collaboration marks the first licensing transaction leveraging miRecule's proprietary DREAmiR discovery platform bolstering commitment to further expansion of the company's RNA therapeutic pipeline.
Price Action: SNY shares are up 1.76% at $39.88 on the last check Tuesday.