March 2022 Top Biopharma Deal: IGM Biosciences – Sanofi IgM Antibody Platform for Cancer and Immunology/Inflammation
March 2022 Top Biopharma Deal Upfront
IGM development and commercialization deal with Sanofi for cancer, immunology, and inflammation based on the IgM platform
Highlighted Deal Financial Comps
Date Announced:
March 29, 2022
Total Deal Value:
$6,265M
Upfront Cash:
$150M
Upfront Equity:
$100M
Option Payments:
n/a
Total Milestones:
up to $6,015M (6 targets)
Royalties:
Tiered royalties for cancer targets in non-major markets; Tiered high single-digit to low-teens royalties for immunology/inflammation globally
Cost & Profit Split:
50/50 in certain major markets for cancer targets
Deal Synopsis
The Asset:
IGM Biosciences IgM antibody technology platform for 3 oncology targets and 3 immunology/inflammation targets
Deal Structure:
Development and Commercial License
Partnership Features:
Collaborative Development, No Shared Cost
Deal Details:
- IGM granted Sanofi exclusive, worldwide rights to develop and commercialize agonists for three cancer and three immunology/ inflammation targets by applying the IgM antibody technology platform.
- For cancer targets, IGM will be responsible for the research and development of all 3 targets through the approval of the first BLA. Sanofi is responsible for all further development and commercialization. For immunology/inflammation targets, IGM will continue the development through Phase I for up to 2 constructs. Sanofi will be responsible for all further development and commercialization.
- IGM will receive $150M up front. Sanofi has also expressed an interest in purchasing up to $100M of IGM non-voting common stock in a public financing. IGM is eligible to receive up to $6.015B in regulatory and commercial milestones, which includes $940M for each of 3 cancer targets and $1.065B for each of 3 immunology/inflammation targets.
- The companies will share profits 50/50 in for cancer targets in certain major markets and IGM is eligible for tiered royalties in other territories. For immunology/inflammation targets, IGM is eligible for tiered high single-digit to low-teens royalties globally.
Last Month:
Congrats to IGM and Sanofi for landing DealForma’s March 2022 Top Biopharma Deal. Last month’s Deal of the Month was Heidelberg – Huadong ATAC candidates for cancer treatment. Red 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.
20,378
Licensing Deals
17,730
Funding Rounds
4,034
M&A
31,012
Company Profiles
5,478
Other Deals
26,505
Drug Sales Figures
All of this by stage, disease indication, modality, target...
More Research by DealForma
Introducing: DealForma plus Tableau
We are excited to introduce DealForma's new Tableau dashboard integration. High quality data on biopharma deals and funding meets interactive charts and visuals. DealForma customers will have exclusive access to the DealForma chart dashboards built on Tableau right...
Venture & IPO – Medtech – Q1 2023
The Medtech sector encompasses medical devices, diagnostics, and digital health solutions, playing a crucial role in healthcare. In Q1 2022, the medtech, devices, digital health therapeutics, and wearables sector experienced a strong opening with 95 funding rounds and...