Lead Pharma has achieved a third milestone under its research collaboration with Sanofi, which has triggered an undisclosed milestone payment.
Milestone
The collaboration, which commenced in February 2015, is aimed at the development of small molecules directed against the nuclear hormone receptor ROR gamma (t) for the treatment of a broad range of autoimmune disorders. This latest milestone payment follows an upfront cash payment that was made at the start of the collaboration and two milestone payments that were made in November 2015 and February 2017. Lead Pharma is eligible to receive further milestone payments and entitled to receive royalty payments on global sales from any resulting products. Financial details were not disclosed.
“We are delighted to have achieved another milestone in our collaboration, further validating the strength of our drug discovery engine and demonstrating our ability to work successfully with industry leaders like Sanofi,” said Arthur Oubrie, chief scientific officer of Lead Pharma. “We believe the overall quality of the candidate is high in view of the intricacies imposed by the pharmacology of the target and we are looking forward to results of GLP toxicology studies as the candidate advances to the clinic.”
“At Sanofi, we are committed to seeking out collaborations that help us deliver on our promise to empower the lives of our patients through innovation,” commented Dr Frank Nestle, Sanofi’s global head of Immunology Therapeutic Research Area and chief scientific officer, North America. “Lead Pharma specialises in difficult-to-address drug targets and we were attracted to their innovative approach to small molecule drug discovery. With such rapid progress in our research collaboration, I’m looking forward to many potential applications in autoimmune indications.”
Lead Pharma is a biopharmaceutical company focusing on the discovery and development of innovative medicines for the treatment of autoimmune diseases and cancer.