IGM Biosciences Announces Refocusing of Sanofi Collaboration

On April 17, 2024 IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company creating and developing engineered IgM antibodies, reported that the Company’s exclusive worldwide collaboration agreement with Sanofi to create and develop IgM agonist antibodies will now focus exclusively on immunology/inflammation targets (Press release, IGM Biosciences, APR 17, 2024, View Source [SID1234642140]). IGM will retain global rights to its proprietary technology related to the oncology targets nominated by Sanofi under the collaboration.

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"We are very pleased with our collaboration with Sanofi and with the preclinical data that we have generated in both the immunology/inflammation and the oncology portions of the collaboration," said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. "As we assess next steps with respect to these oncology targets, our top internal priorities remain our clinical-stage oncology and autoimmune programs."

Terms of the Collaboration
As previously announced, under the terms of the collaboration agreement, for each of the three Sanofi designated immunology/inflammation targets, IGM will lead research and development activities and assume related costs through the completion of a Phase 1 clinical trial for up to two constructs directed to each target, after which Sanofi will be responsible for all future development and commercialization activities and associated costs. IGM will be eligible to receive up to $1,065 million in aggregate development, regulatory and commercial milestones per target as well as tiered high single-digit to low-teen royalties on global net sales.