Sanofi and Regeneron Restructure Immuno-Oncology Collaboration to Add Two New Products

Tarrytown, NY-based Regeneron Pharmaceuticals and Paris-based Sanofi restructured a 2015 agreement to develop immuno-oncology (I/O) treatments. That deal was scheduled to wrap in 2020, but the revision adds two clinical-stage bispecific antibodies to the collaboration. The revision lets Regeneron hold all rights to its other I/O discovery and development programs. It gives Sanofi more flexibility in advancing its early-stage I/O pipeline by itself. Under the terms of the restructuring, Sanofi is paying Regeneron $462 million, which is the balance due under the original 2015 deal. It covers Sanofi’s share of the I/O discovery program costs for the last quarter of 2018 and up to $120 million in development costs for the two new antibodies, as well as a termination fee for the other programs under the original deal.
Sanofi will have the right to opt into the BCMAxCD3 and MUC16xD3 bispecific programs once Regeneron shows proof of concept or when the funding already set aside is used up. Regeneron is committing up to $70 million to develop the BCMAxCD3 antibody for multiple myeloma and up to $50 million for MUC16xCD3 for mucin-16 expressing cancers. After Sanofi opts in, it will lead development and commercialization of the BCMAxD3 bispecific and fund all development costs, with Regeneron reimbursing up to 50 percent out of its share of collaboration profits. Global profits will be shared equally.