Genfit gets up to $54M in Sanofi deal

France's Genfit has inked an R&D deal with Sanofi-Aventis worth up to $54 million in milestone payments. The two developers will work together to identify molecules that could treat heart conditions associated with metabolic diseases. Sanofi will get exclusive worldwide rights to any molecules resulting from the research collaboration. Genfit gets annual payments and could earn milestone payments on development of any drugs developed as part of the deal. Jean-François Mouney, chairman of Genfit's board, tells Reuters the risk-sharing deal is expected to last three years.

"We are very pleased to pursue our alliance with Sanofi-Aventis after more than 10 years of collaboration," said Mouney. "We are particularly proud of the new risk-sharing aspect of the collaboration, demonstrating the strong commitment of both parties." 

- here's Genfit's release
- read more from Reuters