Sanofi-Aventis inks $54.5 million deal with Genfit; gets EU appro for Jevtana

USA-based drug discovery firm Genfit (Alternext: ALGFT) last week signed a new contract with French drug major Sanofi-Aventis (Euronext: SAN) for the research and development of new drugs for the treatment of metabolic disorders.

Genfit is focused on the discovery and development of treatments for cardiometabolic and related disorders. With this agreement, Sanofi-Aventis will gain exclusive global rights for the development and commercialization of any molecules discovered under this agreement.

Under the terms of the deal, Sanofi-Aventis will make annual payments to Genfit to fund its research efforts for the collaboration. It could also pay up to $54.5 million on the achievement of development, registration and commercialization milestones. Once products are commercialized, Genfit will be eligible to receive royalties on product sales.