Sanofi collaborates with Rib-X Pharmaceuticals
Paris-based Sanofi has agreed to license Rib-X’s antibiotics in return for an upfront payment of $10 million and further milestones that could be worth more than $186 million per product developed.
The partners aim to produce treatments for multi-drug resistant bacteria, infections from which are responsible for at least 25,000 patient deaths in the European Union each year.
Elias Zerhouni, president of global research and development at Sanofi, said, "The clinical need for new antibiotics is reaching crisis level, yet the antibiotic pipeline is running dry and fewer and fewer companies are working to develop drugs in this space.”
Should Sanofi choose to exercise its option under the agreement, U.S.-based Rib-X could receive up to $86 million in development and regulatory milestones and over $100 million in commercial milestones payments on a per product basis.
Royalty rates on net sales could reach low double-digit figures, and Rib-X retains a co-promotion option in the U.S. on one of the molecules from the collaboration.