Sanofi and BioNTech sign collaboration and license agreement to develop cancer immunotherapies
French drug major Sanofi (Euronext: SAN) and German biotech firm BioNTech AG on Tuesday said they have entered a multi-year exclusive collaboration and license agreement to develop up to five cancer immunotherapies.
Under the terms of the deal Sanofi will pay $60 million in upfront and near-term milestones to BioNTech, the companies said in a joint statement.
Further, BioNTech could receive over $300 million in development, regulatory and commercial milestones and other payments per product. If commercialized successfully, BioNTech would also be eligible for tiered royalties on net sales up to double digits. In addition, BioNTech has the option to co-develop and co-commercialize two of the five mRNA therapeutics products with Sanofi in the European Union and the USA.
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