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
- read the report from Business in the Burbs