Sanofi's trimmed oncology plans lead to $3B biobucks dent for IGM
Sanofi’s oncology pruning will lead to the evaporation of an estimated $3 billion in potential biobucks for partner IGM Biosciences.
The French pharma giant has amended its $6.15 billion biobuck pact with the California biotech, removing the three targets they had planned in oncology, IGM said Wednesday morning. A Sanofi spokesperson declined to comment on IGM’s press release.
Sanofi doled out $150 million upfront in March 2022 for the work, which aims to develop IgM antibodies that bind to 10 sites, “sort of like Velcro.” While biobucks are substantial in scope, many biotechs never receive the full milestone package promised in R&D pacts because of clinical failures, reneged partnerships or other factors.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
