Genfit drug deal
Lille – Biopharmaceutical company Genfit has signed a deal with drug giant Sanofi-Aventis to discover molecules to correct mitochondrial dysfunction associated with metabolic disease. Sanofi will have exclusive worldwide rights to develop and commercialise drug candidates from the deal. Genfit will receive annual research payments, and is eligible for up to US$54.5m (EUR38.3m) in milestones, plus royalties. Further details were not disclosed. Earlier this year, Genfit said it would receive EUR4.9m in funding over four years from France’s OSEO agency as part of the micro-Path translational research programme to discover new biomarkers for cardiovascular disease. Genfit will lead the consortium of the programme, which includes functional genomics company genOway S.A., R&D service company Indicia Biotechnology and academic researchers.