With its back against the wall, Reg­u­lus hands over its lead mi­croR­NA drug to Sanofi for a small down pay­ment

Just a few weeks af­ter a trou­bled Reg­u­lus Ther­a­peu­tics $RGLS pulled off a re­verse split of its stock, the biotech is hand­ing off its lead drug — now in Phase II — to its part­ners at Sanofi. And they’re not get­ting much for it.

Reg­u­lus an­nounced Tues­day morn­ing that the com­pa­ny is hand­ing over world­wide rights to RG-012, now in a mid-stage tri­al for Al­port syn­drome, for $7 mil­lion and a $40 mil­lion batch of mile­stones. The deal for the miR-21 tar­get­ing ther­a­py cov­ers all in­di­ca­tions. 

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