Global Briefs: Sanofi, AstraZeneca & More
A roundup of news from Sanofi, Insilico Medicine, AstraZeneca and LogicBio. Highlights below.
* Sanofi, Insilico Medicine in $1.2 Bn AI Drug Discovery Pact
* AstraZeneca Completes $68-M Acquisition of Gene-Therapy Company LogicBio
Sanofi, Insilico Medicine in $1.2 Bn AI Drug Discovery Pact
Sanofi and Insilico Medicine, a New York-based clinical-stage bio/pharmaceutical company focused on artificial intelligence (AI)-based drug development, have formed a research collaboration worth up to $1.2 billion ($21.5 million upfront and $1.2 billion in milestone payments).
Under the agreement, Insilico Medicine will use its AI platform, Pharma.AI, to advance drug development candidates for up to six new targets. Sanofi will pay Insilico Medicine a total of up to $21.5 million in upfront and target nomination fees and will gain access to a team of Insilico’s interdisciplinary drug-discovery scientists to identify, synthesize, and advance therapeutic compounds up to the development candidate stage. Additional payments will be made if key research, development, and sales milestones are met, and could total up to $1.2 billion. The collaboration also establishes mid-single to up to low double-digit tiered royalties for any products developed under the agreement.
Source: Insilico Medicine
AstraZeneca Completes $68-M Acquisition of Gene-Therapy Company LogicBio
AstraZeneca has completed its $68-million acquisition of LogicBio Therapeutics, a Lexington, Massachusetts-based clinical-stage gene-therapy company. The acquisition is through Alexion, AstraZeneca’s rare-disease business. The acquisition was first announced in October 2022.
LogicBio has developed technology platforms for the delivery and insertion of genes to address genetic diseases as well as a platform designed to improve viral vector manufacturing processes.
Under the agreement, Alexion, through a subsidiary, initiated a cash tender offer to acquire all outstanding shares of LogicBio for $2.07 per share for a total value of approximately $68 million. AstraZeneca plans to retain LogicBio employees at their current location.
