Placeholder canvas

August 2022 Top Biopharma Deal: Sanofi – Innovent for Cancer Drugs SAR408701 and SAR444245

Sep 4, 2022 | Deal of the Month, Partnership Deals

August 2022 Top Biopharma Deal Upfront
Sanofi development and commercialization deal with Innovent for SAR408701 and SAR444245

Highlighted Deal Financial Comps

Date Announced:

August 24, 2022

Total Deal Value:

$449.6M

Upfront Cash:

n/a

Upfront Equity:

$306.6M

Option Payments:

n/a

Total Milestones:

$143M dev., reg., and sales milestones

Royalties:

Undisclosed

Cost & Profit Split:

n/a

Deal Synopsis

The Asset:

Sanofi’s Phase III anti-CEACAM5 antibody-drug conjugate SAR408701 (tusamitamab ravtansine) 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.

Deal Structure:

Development and Commercial License

Partnership Features:

Collaborative Development, No Shared Cost; Co-Development, Shared Dev Cost

Deal Details:

  • 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.

21,598

Licensing Deals

22,217

Funding Rounds

4,216

M&A

35,278

Company Profiles

5,897

Other Deals

27,588

Drug Sales Figures

All of this by stage, disease indication, modality, target...

More Research by DealForma

Biopharma Venture Investment Through Q3 2023

Biopharma Venture Investment Through Q3 2023

Biopharma venture investment totals rebounded in Q3 2023, nearing 2020 quarterly levels. The number of rounds, especially for seed and Series A, are still depressed as we are seeing investors re-investing in later rounds of portfolio companies rather than new...

Biopharma M&A Through Q3 2023

Biopharma M&A Through Q3 2023

This is a quick readout of biopharma M&A activity through Q3 2023 as we track the prominent deals for the year leading up to year-end. Among some of the largest in biopharma are Novo Nordisk's acquisition of Inversago Pharma offering shareholders up to $1.075...

Biopharma R&D Partnerships – Q3 2023 Review

Biopharma R&D Partnerships – Q3 2023 Review

Biotech, pharma, and medtech R&D partnerships in Q3 2023 settled to pre-2020 levels on total deal announced values but again on fewer deals. Major deal announcements in Q3 included Pfizer / Flagship Pioneering, Alnylam / Roche, Nanobiotix / Janssen, Orionis /...