
August 2022 Top Biopharma Deal: Sanofi – Innovent for Cancer Drugs SAR408701 and SAR444245
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- Sanofi granted Innovent exclusive rights to develop and commercialize SAR408701 (tusamitamab ravtansine), a Phase III anti-CEACAM5 antibody-drug conjugate for the treatment of non-small cell lung cancer (NSCLC) and gastric cancer in China. Additionally, Sanofi and Innovent will co-develop SAR444245, a Phase II non-alpha IL-2 for the treatment of multiple cancers.
- Innovent will be responsible for the clinical development of SAR444245, while Sanofi will be responsible for commercial activities and regulatory approval for both products in China. Sanofi will invest EUR300M (approx. $306.6M) in Innovent up front at HK$42.42 (approx. $5.40) per share in Innovent common stock.
- Sanofi is eligible for EUR80M (approx. $81.7M) in development milestones and royalties for SAR408701, while Innovent is eligible to receive EUR60M (approx. $61.3M) in development milestones and royalties for SAR444245.
Last Month:
Congrats to Sanofi and Innovent for landing DealForma’s August 2022 Top Biopharma Deal. Last month’s Deal of the Month was Orion – MSD for prostate cancer drug ODM-208. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.
We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
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