Sanofi, Principia Biopharma in MS, CNS Drug Pact Worth up to $805 MillionBy
Sanofi has partnered with Principia Biopharma, a South San Francisco, California-based clinical-stage biopharmaceutical company, to develop an experimental oral treatment for multiple sclerosis (MS) and other potential treatments for central nervous system (CNS) diseases in a deal worth up to $805 million.
Under the agreement, Principia will grant Sanofi an exclusive worldwide license to develop and commercialize PRN2246, a Bruton’s tyrosine kinase (BTK) inhibitor that crosses the blood/brain barrier, now in Phase I development. Sanofi will pay Principia a $40-million upfront payment, future milestone payments that could total $765 million, and royalties on product sales. Principia has the option to co-fund Phase III development in exchange for either increased royalties on worldwide product sales or a profit- and loss-sharing arrangement in the US.
The transaction is expected to close in the fourth quarter of 2017, subject to customary regulatory approvals.