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Corporate and Industrial News
, Drugs, Vaccines and Therapeutics
by ruth on November 30, 2007
Sanofi-Aventis is purchasing additional 12 million shares on biotech firm Regeneron for $400 million, upping its shares from 4% to 19%.
The two biotech companies are already co-developing Aflibercept (VEGF Trap), a cancer drug in late-stage trials for prostate and lung cancer, an equivalent of Genentech's Avastin.
Source: Wall Street Journal
As part of the new deal, Sanofi and Regeneron plan to bring two to three biotech drugs into the pipeline each year, Sanofi Vice President of Research and development Jean-Claude Muller said in a conference call, according to Dow Jones.
They'll start with a drug that's in clinical trials for rheumatoid arthritis. They also plan to collaborate on a second drug (an antibody to Delta-like ligand-4 (Dll4), if you must know) that affects the body's ability to grow new blood vessels - the same function targeted by Avastin and VEGF Trap.
The two biotech companies are already co-developing Aflibercept (VEGF Trap), a cancer drug in late-stage trials for prostate and lung cancer, an equivalent of Genentech's Avastin.
Source: Wall Street Journal
Permalink: Sanofi-Aventis Acquires 19% of Regeneron
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