- Regeneron Pharmaceuticals (REGN -3.3%) and collaboration partner Sanofi (PA:SASY) (SNY -0.4%) will accelerate and expand investment in cancer candidate cemiplimab, a PD-1 inhibitor, and allergic disease med DUPIXENT (dupilumab), an interleukin-4 (IL-4) and interleukin-13 (IL-13) inhibitor.
- The companies will increase their investment in cemiplimab to at least $1.64B, shared equally to advance the candidate in a range of cancers. U.S. and European marketing applications for advanced cutaneous squamous cell carcinoma are on tap this quarter.
- Additional investment in dupilumab, unspecified, will accelerate new studies in chronic obstructive pulmonary disease (COPD), peanut allergy, grass allergy and in patients with multiple allergies. The new funding will also support the acceleration and expansion of development of REGN3500, an IL-33 antibody, in atopic dermatitis, asthma and COPD.
- Regeneron has agreed to a limited waiver of the "lock-up" clause with Sanofi enabling it to sell a small percentage of the REGN common stock it owns to fund a portion of the increased investment. Specifically, Sanofi will be allowed to sell up to 1.4M shares of REGN common stock to Regeneron through the end of 2020 (~6% of its stake). If Regeneron opts not to buy the shares, Sanofi may sell them on the open market.
- Now read: Sanofi (SNY) Update On Alliance With Alnylam - Slideshow
Original article