Sanofi invests further $9m in antibiotics cooperation
Paris/New Haven - Sanofi pays a $9m milestone payment to Rib-X Pharmaceuticals, Inc. The French pharmaceutical company recently signed worldwide research collaboration and option for license for novel classes of antibiotics resulting from Rib-X’s RX-04 program for the treatment of drug resistant Gram-negative and Gram-positive pathogens.
“The receipt of this milestone payment is representative of the rapid progress we have made in advancing the RX-04 program toward the clinic,” said Mark Leuchtenberger, President and CEO at Rib-X Pharmaceuticals.
Under the terms of the agreement announced on July 6, 2011, Rib-X received $10m in an upfront payment and has now received an additional $9m in near-term research-based milestones. Rib-X will be eligible to receive further payments for the achievement of research, preclinical, regulatory and commercial milestones. Except for those assets licensed to Sanofi through the agreement, Rib-X retains its rights to the discovery platform and its future programs. The agreement could result in up to $86m in development and regulatory milestones on a per product basis. Commercial milestones could exceed $100m on a per product basis. Rib-X retains a co-promotion option in the United States on one of the molecules coming from the collaboration.
The RX-04 development program has shown antibacterial activity against a number of SOME multi-drug resistant Gram-negative and Gram-positive pathogens, including NDM-1-producing Enterobacteriaceae, P. aeruginosa and A. baumannii and MRSA. The Rib-X RX-04 program targets bacterial ribosomes.