Sanofi signs deal worth up to $2.3 billion with oral drug firm DiCE
Sanofi could pay US biotech DiCE up to $2.3 billion under a partnership deal aimed at finding new drugs to replace injections for cancer and immune diseases.
Sanofi will pay an initial $50 million to access DiCE's technology and take an equity stake in the US firm, in the five-year research alliance announced yesterday.
The companies will work on as many as 12 drug targets and Sanofi will contribute up to $184 million per target in research.
The French company will also pay California-based DiCE royalties on sales of any medicines that are successfully developed.
DiCE specialises in medicines that can be given as pills, but which tackle complex diseases normally requiring treatment with injectable drugs.
The idea is to replace antibody-based injectable medicines with oral drugs in areas such as cancer and immune disorders.
A joint steering committee comprised of Sanofi and DiCE representatives will oversee the initiative.
The collaboration is a part of Sanofi's Sunrise Initiative, a strategic partnership model that seeks to invest in early-stage science aligned with Sanofi's R&D and commercial knowledge.