Sino Biopharm Inks Up to $1.5 Billion Deal With Sanofi for Cancer Treatment

By Fabiana Negrin Ochoa

Sino Biopharmaceutical is granting Sanofi license to develop a blood cancer treatment, a deal that could net the Chinese pharma major over $1 billion.

Hong Kong-listed Sino Biopharm said in a filing on Wednesday that one its subsidiaries entered into a licensing agreement with a fully owned unit of France's Sanofi.

Under the terms, Sanofi will get exclusive global license to develop, manufacture and commercialize rovadicitinib, a treatment for myelofibrosis, a type of blood cancer.

Sino Biopharm is eligible for an upfront payment of $135 million plus potential milestone payments of up to $1.395 billion, as well as royalties on sales.

The announcement adds to a flurry of tie-ups between Chinese drug companies and industry heavyweights overseas. Last month, China's Innovent Biologics announced a partnership with Eli Lilly that includes up to $8.5 billion in milestone payments.

According to the filing, rovadicitinib was approved for marketing in China for first-line treatment of myelofibrosis and has demonstrated breakthrough potential in the treatment of chronic graft-versus-host disease.

Sino Biopharm said the agreement is subject to customary closing conditions, including regulatory clearance.

Write to Fabiana Negrin Ochoa at [e-mail]

(END) Dow Jones Newswires

03-03-26 1953ET