Sanofi inks up to $900 million allergy pact with Selecta Biosciences

US clinical-stage biopharma company Selecta Biosciences revealed this morning that it has entered into a strategic global collaboration with French drug major Sanofi (Euronext: SAN) to discover highly targeted, antigen-specific immunotherapies for life-threatening allergies worth a potential $900 million to the US firm.

Under the terms of the agreement Selecta, which is developing a new class of synthetic vaccines and immunotherapies, is eligible to receive several preclinical, clinical, regulatory and sales milestones totaling $300 million per allergen indication for up to three immunotherapy candidates contemplated by this collaboration. Selecta is also entitled to up to double digit tiered royalties as percentage of product net sales for each commercialized immunotherapy.

Will use Selecta’s SVP platform