Sanofi Taps Adagene's 'Masking' Tech In Over $2.5B Immuno-Oncology Pact

Sanofi SA (NASDAQ:SNY) has signed a collaboration with Adagene Inc (NASDAQ:ADAG) to advance two preclinical immuno-oncology candidates and an option to develop two more.
Sanofi is paying $17.5 million upfront and promising up to $2.5 billion in potential milestones.
Under the terms of the agreement, Adagene will be responsible for early-stage research activities to develop masked versions of Sanofi candidate antibodies using Adagene's SAFEbody technology.
Also See: Adagene's Posts Early Safety, Efficacy Data From Cold Tumors Trial.
Sanofi will be solely responsible for later-stage research and all clinical, product development, and commercialization activities.
SAFEbody technology uses precision masking to shield the binding domain of the biologic therapy. Activating the tumor microenvironment allows for tumor-specific targeting of antibodies while minimizing on-target off-tumor toxicity in healthy tissues.
Price Action: ADAG shares are up 8.36% at $5.96, while SNY stock is down 0.67% at $50.72 during the market session on the last check Wednesday.