Sanofi-Aventis buys global rights to CureDM's Pancreate for up to $355 million
French drug major Sanofi-Aventis has entered into a licensing deal with USA-based CureDM on a novel human peptide, Pancreate, which could restore a patients' ability to produce insulin and other pancreatic hormones in both type 1 and type 2 diabetes.
Under the terms of the accord, CureDM will receive an upfront payment, as well as development, regulatory and commercial milestone payments, all of which could reach a total of $ 335 million. In addition, CureDM is eligible to receive tiered royalties on worldwide product sales. In return, Sanofi-Aventis is granted an exclusive worldwide license to develop, manufacture and commercialize Pancreate and related compounds.
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