An­ti­fun­gal out, can­cer in: Rev­o­lu­tion scores $500M Sanofi deal on first on­col­o­gy pro­gram

Less than a year ago, Third Rock start­up Rev­o­lu­tion Med­i­cines shed its an­ti­fun­gal am­bi­tions and re­made it­self as an on­col­o­gy com­pa­ny. Now, the Red­wood City-based biotech has ap­par­ent­ly wooed Sanofi $SNY in­to a bang up deal on its first can­cer pro­gram.

The com­pa­ny said Wednes­day that Sanofi will be pick­ing up the check for its lead pro­gram’s R&D, while of­fer­ing a $50 mil­lion up­front pay­ment and up to $500 mil­lion in gat­ed mile­stones. The two com­pa­nies are al­so shar­ing US prof­its (and loss­es) in a 50/50 split — an un­usu­al­ly bal­anced deal for an ear­ly-stage biotech like Rev­o­lu­tion to fi­na­gle.

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