Dec 15 (Reuters) – Private biotech company Dren Bio has entered into a strategic collaboration with French drugmaker Sanofi to develop therapies for autoimmune diseases in a deal worth up to $1.7 billion, it said on Monday.
Under the terms of the agreement, Dren Bio will get an upfront payment of $100 million and is eligible for up to $1.7 billion in developmental, regulatory and commercial milestone payments.
The agreement builds on the existing relationship between the two companies, following Sanofi’s acquisition earlier this year of Dren Bio’s DR-0201 treatment for deep B-cell depletion.
B-cell depletion therapy is a targeted treatment to reduce the number of B cells in the immune system to alleviate symptoms and slow disease progression. It is commonly used for autoimmune diseases like multiple sclerosis.
As part of Monday’s deal, Dren Bio also retains the option to co-fund future development in exchange for co-promotion rights in the U.S. with Sanofi, an equal share of U.S. profits and losses and milestones and royalties on ex-U.S. sales.
(Reporting by Sneha S K in Bengaluru; Editing by Sahal Muhammed)
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