Sanofi-Aventis has agreed to make five annual payments of at least $4.3 million to Regeneron Pharmaceuticals in exchange for the rights to use its Velocigene technology. Regeneron posted losses of $125 million in the last fiscal year. The technology will be used to develop knock-out and transgenic models of gene function for target genes identified by Sanofi-Aventis. Sanofi-Aventis will use these models for its internal research programs, outside the scope of its antibody collaboration with Regeneron.
- here's the press release [1]
- read the report [2] from Business in the Burbs
Related Articles:
Sanofi snags bigger stake, new pact with Regeneron [3]
Regeneron wins rich pact for VEGF trap [4]
Sanofi, Regeneron launch late-stage cancer studies [5]
Links:
[1] http://www.fiercebiotech.com/press-releases/regeneron-pharmaceuticals-announces-velocigene-r-agreement-sanofi-aventis-france-rege
[2] http://burbsbiz.lohudblogs.com/2008/08/05/regeneron-to-get-payments-from-french-company/
[3] http://www.fiercebiotech.com/story/sanofi-snags-bigger-stake-new-pact-regeneron/2007-11-29
[4] http://www.fiercebiotech.com/story/regeneron-wins-rich-pact-for-vegf-trap/2006-10-19
[5] http://www.fiercebiotech.com/story/sanofi-regeneron-launch-late-stage-cancer-studies/2007-08-23