- Sanofi (PA:SASY) SA (NASDAQ: SNY) has signed a collaboration with Adagene Inc (NASDAQ: ADAG) to advance two preclinical immuno-oncology candidates and an option to develop two more.
- Sanofi is paying $17.5 million upfront and promising up to $2.5 billion in potential milestones.
- Under the terms of the agreement, Adagene will be responsible for early-stage research activities to develop masked versions of Sanofi candidate antibodies using Adagene's SAFEbody technology.
- Also See: Adagene's Posts Early Safety, Efficacy Data From Cold Tumors Trial.
- Sanofi will be solely responsible for later-stage research and all clinical, product development, and commercialization activities.
- SAFEbody technology uses precision masking to shield the binding domain of the biologic therapy. Activating the tumor microenvironment allows for tumor-specific targeting of antibodies while minimizing on-target off-tumor toxicity in healthy tissues.
- Price Action: ADAG shares are up 8.36% at $5.96, while SNY stock is down 0.67% at $50.72 during the market session on the last check Wednesday.
Read at Benzinga