Sanofi and IGM Biosciences ink mega dollar deal on IgM antibodies
Shares of California, USA-based IGM Biosciences (Nasdaq: IGMS) were up more that 45% at $21.84 in early trading, after the announcement of a deal with French pharma major Sanofi (Euronext: SAN), which, though heavily back-loaded, has the potential to earn the US biotech more than $6 billion.
The companies have signed an exclusive worldwide collaboration agreement to create, develop, manufacture, and commercialize IgM antibody agonists against three oncology targets and three immunology/inflammation targets. Engineered IgM antibodies represent a new class of potential therapeutics that combine the multi-valency of IgM antibodies possessing 10 binding sites compared to conventional IgG antibodies having only two target binding sites.
Terms of the collaboration
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