Sanofi-Aventis Inks $500M Deal For Cancer Therapy

Law360, New York (February 12, 2008, 12:00 AM EST) -- Sanofi-Aventis has signed a deal with a Massachusetts biopharmaceutical company granting the French pharmaceutical giant the exclusive worldwide license to an antibody that may potentially be used in treating cancer.

Under the agreement, Sanofi-Aventis will pay Dyax Corp. up to $500 million in licensing fees and milestone payments, should the antibodies become commercially successful. Dyax will receive $25 million this year, and is eligible to receive royalties based on commercial sales of the technology.

Dyax keeps co-development and profit-sharing rights to the technology, while Sanofi-Aventis will...
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