Regeneron, Sanofi expand antibody collaboration; $1B upfront, up to $7B milestones

Regeneron and Sanofi amended their antibody collaboration agreement to include four new Regeneron-invented antibodies targeting IL-13, IL-4, IL-4R, and a bispecific IL-4xIL-13 antibody. Sanofi will pay Regeneron $1.0 billion upfront and up to $7.0 billion in development, regulatory, and commercial milestones, with global profits on the New Licensed Products to be shared equally. This expands an existing partnership with significant near-term cash inflow and material long-term milestone and profit-sharing potential for a biotech company of Regeneron's scale.

Regeneron and Sanofi agreed to team up on four new antibody drugs, with Sanofi paying Regeneron $1 billion right away and potentially $7 billion more if the drugs hit development goals. The companies will split profits from sales equally.