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Sanofi will grant Regeneron worldwide exclusive license rights to Libtayo, a treatment for non-small cell lung cancer.
Sanofi announced on June 2, 2022 that Regeneron will obtain worldwide exclusive license rights to Libtayo, a treatment for non-small cell lung cancer (NSCLC). Prior to Sanofi’s restructure of its immune-oncology collaboration with Regeneron, the companies had split Libtayo’s worldwide operating profits equally and co-commercialized the treatment in the United States, with Sanofi solely responsible for commercialization in the rest of the world.
Under the new license and collaboration agreement, Sanofi will receive an upfront payment of $900 million as well as an 11% royalty on worldwide net sales of Libtayo. Sanofi will also be entitled to a $100 million regulatory milestone payment as well as sales-related milestone payments of up to $100 million over the next two years.
Regeneron will also increase the share of its profits that are paid to Sanofi to reimburse Sanofi-funded development expenses from 10% to 20% until Regeneron’s share of the cumulative development costs incurred under the collaboration has been reached.
“Our diverse oncology portfolio doubled between 2019 and 2022 and now includes 12 compounds in clinical trials, each with a unique mechanism of action,” said Bill Sibold, executive vice president of specialty care & president of North America, Sanofi, in a press release. “Our early steps with Libtayo in immuno-oncology provided a strong foundation for our revitalized oncology efforts. Now, we are focused on leveraging our internal capabilities and advancing a new generation of oncology medicines. We continue to maintain a strong partnership with Regeneron in immunology and will work closely with them on the seamless transition of Libtayo to ensure there is no impact for patients.”