15 January 2019 | News
Sanofi will have access to Biomunex' proprietary technology to generate and optimize bi- and multi-specific antibody therapeutics
Biomunex Pharmaceuticals, a biopharmaceutical company focused on providing immuno-therapeutics through the discovery and development of bi- and multi-specific antibodies, has announced that it has entered into a licensing agreement with Sanofi.
Under the terms of the agreement, Sanofi will have access to Biomunex' proprietary technology to generate and optimize bi- and multi-specific antibody therapeutics. Sanofi will be solely responsible for the research, development, manufacturing and global commercialization activities. This agreement, the first of its kind for Biomunex, is in line with the company’s business model, which is to establish licensing or collaboration agreements and to become a clinical-stage company in the short term.
Biomunex will receive an initial upfront payment and will be eligible to receive further clinical, regulatory and commercial milestone payments. Further financial details were not disclosed.
“This licensing agreement is a major milestone for Biomunex. It demonstrates the high value of the BiXAb® technology and is the starting point for our collaboration strategy with pharmaceutical companies to discover and develop cutting-edge bi- and multi-specific antibodies, giving patients new treatment options,” said Pierre-Emmanuel Gerard, MD, founder and CEO of Biomunex. “We believe that the proceeds from this deal, together with the funding round that we expect to finalize in the near future, will help us accelerate the development of Biomunex’ proprietary BiXAb® bi- and multi-specific antibody programs in immuno-oncology and other therapeutic areas towards clinical development.”