PARIS (Agefi-Dow Jones)–The pharmaceutical group Sanofi said on Tuesday that it had entered into a collaboration agreement with the American biotech IGM Biosciences, listed on the Nasdaq, for the development of targets in oncology, immunology and inflammation.
The two companies intend to exploit the potential of an exclusive technological platform for the production of IgM antibodies to discover agonists directed against three targets in oncology and three targets in immunology or inflammation.
As part of this collaboration, Sanofi will pay IGM Biosciences an upfront payment of $150 million and potentially more than $6 billion in payments for development, regulatory approval and commercialization milestones.
Sanofi has also expressed interest in purchasing up to $100 million of IGM Biosciences common stock, non-voting, under a tender offer.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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March 29, 2022 01:43 ET (05:43 GMT)