Sanofi pulls out of Revolution Medicines deal on SHP2 inhibitor RMC-4630

8 December 2022

US clinical-stage oncology company Revolution Medicines (Nasdaq: RVMD) saw its shares fall as much as 7% to $22.81 yesterday, after it announced that French pharma major Sanofi (Euronext: SAN) has pulled out their global SHP2 development and commercialization collaboration, which could have earned the American company more than $500 million.

No specific reasons were revealed, though Sanofi said the decision was made after a recent pipeline review and reprioritization.

Following the termination, Revolution will regain all global rights granted to Sanofi under the agreement, including decision-making regarding research and development, and rights to all commercial proceeds from RMC-4630, a SHP2 inhibitor drug candidate in development for the treatment of patients with certain RAS-addicted cancers. The companies plan to collaborate to transition all Sanofi’s rights and obligations related to RMC-4630 back to Revolution Medicines over the first half of 2023.

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