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Regeneron Strengthens Commitment to Oncology through Purchase of Sanofi's Stake in the Regeneron and Sanofi Collaboration on Libtayo® (cemiplimab), a PD-1 Inhibitor Approved for Multiple Forms of Cancer
Regeneron will secure global rights to Libtayo from Sanofi in exchange for upfront payment of $900 million, plus royalties and potential future milestone
About this update from Regeneron Pharmaceuticals, Inc.
[{"type":"text","content":"Regeneron will secure global rights to Libtayo from Sanofi in exchange for upfront payment of $900 million, plus royalties and potential future milestone payments\n18 different investigational treatment combinations with Libtayo currently being evaluated in 22 clinical trials\nRegeneron will host an investor conference call today at 8:30 am ET; dial-in details are available below \nTARRYTOWN, N.Y., June 2, 2022 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced its intent to purchase Sanofi's stake in the Regeneron and Sanofi collaboration on Libtayo® (cemiplimab), providing Regeneron with exclusive worldwide development, commercialization and manufacturing rights to the medicine. The transaction is subject to merger control clearance outside the United States and is expected to close in the third quarter of 2022. Once the transaction has closed, Regeneron will record 100% of global net sales and expenses for the Libtayo program.\nLibtayo, which was invented using Regeneron's proprietary VelocImmune® technology, is a fully human monoclonal antibody targeting the immune checkpoint receptor PD-1 on T cells. It is currently approved by regulatory authorities in more than two dozen countries, including by the U.S. Food and Drug Administration (FDA) as cemiplimab-rwlc monotherapy treatment for certain patients with advanced basal cell carcinoma (BCC), advanced cutaneous squamous cell carcinoma (CSCC) and advanced non-small cell lung cancer (NSCLC). Libtayo is a leading and first-in-class PD-1 inhibitor for the treatment of approved non-melanoma skin cancers and is considered a standard of care.\nRegulatory reviews are also underway for Libtayo in combination with chemotherapy as a first-line treatment in advanced NSCLC in multiple markets, including the U.S. and European Union, where approvals would provide promising opportunities to extend the medicine's reach. It is also currently being studied with 18 investigational agents in 22 clinical trials for a variety of difficult-to-treat cancers. These combinations include numerous assets from Regeneron, including its antibody targeting the LAG-3 checkpoint receptor, and several assets from its collaborators.\n\"This strategic acquisition is a major step towards Regeneron's goal of becoming a global oncology leader, centered on Libtayo as an important choice i...