Sanofi inks $335M diabetes deal
CureDM and pharmacuetical company Sanofi-Aventis have signed an agreement for the licensing of CureDM’s Pancreate, an islet neogenesis agent for the treatment of type 1 and 2 diabetes.
Under the terms of agreement, Sanofi will pay CureDM $335 million in upfront cash payments, along with development, regulatory and sales performance milestone payments.
In addition, the Paris-based Sanofi will gain exclusive rights to develop, manufacture and market Pancreate, a human protein that has been shown in clinical trials to stimulate the growth of insulin in the pancreas to restore normal metabolic function and better glucose control.
According to Wilmington, Del.-based CureDM, it will also continue to reap in the royalties related to the product's global sales. The company expects a phase I clinical trial to begin late this year as the treatment has already reached late stage preclinical development.
Under the terms of agreement, Sanofi will pay CureDM $335 million in upfront cash payments, along with development, regulatory and sales performance milestone payments.
In addition, the Paris-based Sanofi will gain exclusive rights to develop, manufacture and market Pancreate, a human protein that has been shown in clinical trials to stimulate the growth of insulin in the pancreas to restore normal metabolic function and better glucose control.
According to Wilmington, Del.-based CureDM, it will also continue to reap in the royalties related to the product's global sales. The company expects a phase I clinical trial to begin late this year as the treatment has already reached late stage preclinical development.