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  • Writer's pictureSBIJI Innovation

Sanofi, Israel's Biond Biologics to collaborate on new cancer drug

JERUSALEM (Reuters) - Israel’s Biond Biologics Ltd said on Tuesday it had forged an exclusive global licence agreement, potentially worth more than $1 billion, with French drugmaker Sanofi for the development and commercialization of its BND-22 cancer drug.

Biond, a privately-held biopharmaceutical company, developing novel immunotherapies for cancer, said that it will receive a $125 million upfront payment in cash under the deal.

It will also be entitled to receive more than $1 billion in development, regulatory, and sales milestones, as well as tiered double-digit royalty payments, the company said.

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