June 2022 Top Biopharma Deal: Sanofi – Regeneron Pharmaceuticals for Cancer/Inflammation drug Libayo
June 2022 Top Biopharma Deal Upfront
Sanofi development and commercialization deal with Regeneron for Libtayo (Amended Agreement)
Announced: June 2, 2022
Total Deal Value: $1,100M
Upfront Cash: $900M
Upfront Equity: n/a
Option Payments: n/a
Royalty: 11% royalties on worldwide net sales
Cost and Profit Split: n/a
Sanofi’s first line treatment: Libtayo for cancer
Development and Commercial License
- Sanofi granted Regeneron exclusive, worldwide rights to develop and commercialize Libtayo for the treatment of cancer. Sanofi and Regeneron signed a license agreement in 2015 to develop Libtayo.
- Per the 2015 agreement, Regeneron would book sales in the US, and Sanofi would be responsible for the rest of the world. The companies would share profits equally (see separate deal profile). In June 2022, the companies signed a new agreement where Sanofi will transfer its rights to develop and commercialize Libtayo to Regeneron. The ex-US transaction is expected to close in Q3 2022.
- Sanofi will receive $900M up front and is eligible to receive up to a $100M milestone upon the first approval by either the FDA or EMA for Libtayo in combination with chemotherapy for first-line treatment of certain patients with NSCLC, and up to $100M as a sales milestone in the next two years, plus 11% royalties.
Congrats to Sanofi and Regeneron for landing DealForma’s June 2022 Top Biopharma Deal. Last month’s Deal of the Month was Dragonfly Therapeutics – Gilead Sciences NK cell engager for cancer/inflammation treatment.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
Want data for your analysis? Want us to do it? Subscribers get both.
Schedule your demo of the DealForma database to see how we help you get better reports done faster.
Specifically for Biotech, Pharma, Device, and Diagnostics
Get more done.
Stop cleaning data or getting lost in legacy databases. We built DealForma to help you be better and faster at business research. Schedule your customized demo to see how DealForma helps you impress your boss and sign-off early.
More Research by DealForma
The top deal upfront for October 2021 was the Xencor – Janssen deal for plamotamab and XmAb bispecific antibodies and new XmAb B-cell targeting bispecific antibodies for CD20-expressing hematologic malignancies. Xencor will receive $100M in upfront cash, $25M in an upfront equity investment, and is eligible for up to $1.18B in dev., reg., and sales milestones, plus tiered mid-teens to low-twenties royalties.
The top deal upfront for September 2021 was the REGENXBIO – AbbVie deal for RGX-314 for wet AMD, diabetic retinopathy, and other chronic retinal diseases. REGENXBIO will receive $370M up front and is eligible for up to $1.38B in milestones, plus tiered royalties on net sales of RGX-314 outside the US and 50% of profits in the US.
August 2021 Top Biopharma Deal: RemeGen – Seagen HER2-targeted ADC, Disitamab Vedotin for Solid Tumors
The top deal upfront for August 2021 was the RemeGen – Seagen deal for HER2-targeted ADC disitamab vedotin for solid tumors. RemeGen will receive $200M in cash up front and is eligible to receive up to $2.4 billion in milestones, plus tiered, high single-digit to mid-teen royalties.
Top Biopharma Deal July 2021: Arvinas – Pfizer ARV-471 PROTAC Protein Degrader for ER+/HER2- Breast Cancer
The top biopharma deal upfront for July 2021 was Arvinas and Pfizer’s partnership for PROTAC protein degrader ARV-471 ER+/HER2- breast cancer. Arvinas will receive $650M in cash up front, $350M in an equity investment, and is eligible to receive up to $1.4 billion in milestones, plus a 50% cost and profit split.
The top biopharma deal upfront for June 2021 was iTeos and GSK’s partnership for anti-TIGIT mAb EOS-448. iTeos will receive $625M up front, up to $1.45B in milestones, a U.S. profit split and ex-U.S. tiered royalties.
Top Biopharma Deal May 2021: Agenus – BMS for AGEN-1777 Bispecific Anti-TIGIT Antibody for Non-Small Cell Lung Cancer
The top biopharma deal upfront for May 2021 was Agenus and BMS’ partnership for anti-TIGIT mAb AGEN-1777. Agenus will receive $200M up front.
Top Biopharma Deal April 2021: CRISPR – Vertex for CTX001 for Sickle Cell Disease and Transfusion-Dependent Beta-Thalassemia
CRISPR Therapeutics and Vertex Pharmaceuticals amended their 2015 deal to develop and commercialize gene editing therapies. This expansion is for Phase I/II CTX001 for severe sickle cell diseases and transfusion-dependent beta-thalassemia. CRISPR will receive $900M up front, up to $200M in milestones upon the first regulatory approval, and a cost/profit split of 40%.
Debiopharm granted Merck exclusive, worldwide rights to develop and commercialize Xevinapant in Phase III for advanced squamous cell carcinoma of the head and neck. Debiopharm will receive EUR188M ($227M) up front and is eligible for up to EUR710M ($856M) in milestones, plus royalties. This was the largest upfront cash and equity for a partnership signed in March 2021.
Biotech and pharma deals in 2020 soared to an all-time high of 1,154 signed deals with $146.3 billion in total value, defying expectations that the global Covid-19 pandemic would hamper dealmaking. Global healthcare and life sciences R&D partnership activity was up 23 percent over 2019 and total deal values rose 31 percent from the previous year, driven in part by advances in technological and molecular understandings of disease pathways, and a drive toward targeted precision medicines.
Vir Biotechnology and GSK expanded their partnership with a new deal to develop VIR-2482 and mAbs for influenza. This was the largest upfront cash and equity for a partnership signed in Feb. 2021.
You met on Zoom. Now it's Deal Time.
With thousands of company profiles and a decade of deals specifically in biopharma and medtech, you'll take the guesswork out of deal comps. Schedule your customized demo to see how DealForma helps you win that term sheet with better data.