MyoKardia reclaims US royalty rights to heart drugs, completing conscious uncoupling from Sanofi
In January, MyoKardia disclosed that Sanofi was walking away from their heart drug partnership forged in 2014. On Thursday, the San Francisco-based biotech said it had regained the US royalty rights to two products from the French drugmaker for $50 million upfront.
MyoKardia $MYOK will also pay an additional $30 million next year for the rights to the experimental drugs: mavacamten and MYK-224. Under the terms of the former deal with Sanofi $SNY, the Parisian company was eligible to receive tiered royalties ranging from 5% to 10% on US sales of the two drugs.
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