Sanofi, Innovent Biologics Collaborate On Cancer Treatments In China - Sanofi (NASDAQ:SNY)

Innovent Biologics Inc IVBXF and Sanofi SA SNY have collaborated to develop and commercialize two Sanofi clinical-stage oncology assets - Phase 3 SAR408701 and Phase 2 SAR444245 combined with sintilimab.
In addition to the collaboration and license agreement, Sanofi will invest €300 million in Innovent through the subscription of new common shares.
SAR408701 (tusamitamab ravtansine) is an antibody-drug conjugate (ADC) targeting a cell-surface glycoprotein that is highly expressed in non-small cell lung cancer (NSCLC), gastric cancer, and other cancers.
SAR408701 is currently in a Phase 3 study for second-line NSCLC and global Phase 2 studies in additional indications, including first-line NSCLC, gastric cancers, and other solid tumors.
Innovent will be responsible for developing and exclusively commercializing tusamitamab in multiple oncology-based indications in China.
Sanofi will receive up to €80 million in development milestone payments and royalties.
SAR444245 is currently under Phase 2 studies for skin cancers, gastrointestinal cancer, NSCLC / mesothelioma, head & neck tumors, and lymphoma.
Innovent and Sanofi will jointly explore the development of SAR444245 in China in various cancer types, where Innovent will lead the clinical development.
Sanofi remains the sole Marketing Authorization holder for both assets and will be fully responsible for SAR245 commercialization.
Innovent will receive up to €60 million in development milestone payments and royalties.
Price Action: SNY shares are up 0.78% at $49.22 during the market session on the last check Thursday.

Market News and Data brought to you by Benzinga APIs