Dec 16 (Reuters) - South Korea-based ADEL said late on Monday that it has entered a $1.04 billion partnership with French drugmaker Sanofi to develop and sell the biotech company's experimental
ADEL and Sanofi Sign $1.04 Billion Alzheimer's Drug Development Deal
Dec 16 (Reuters) - South Korea-based ADEL said late on Monday that it has entered a $1.04 billion partnership with French drugmaker Sanofi to develop and sell the biotech company's experimental Alzheimer's disease treatment.
Under the terms of the agreement, ADEL will receive an upfront payment of $80 million, with additional milestone payments tied to development progress and commercial performance, as well as royalties on future sales.
Sanofi signed a separate deal with private biotech Dren Bio worth up to $1.7 billion on Monday to develop autoimmune disease therapies.
ADEL's drug candidate, ADEL-Y01, is an antibody therapy designed to block harmful forms of a protein linked to Alzheimer's disease. It is currently in early-stage human trials in the United States.
"ADEL's innovative approach to targeting tau acetylation offers a promising and differentiated mechanism for addressing the underlying causes of Alzheimer's disease," said Erik Wallstroem, global head, Multiple Sclerosis, Neurology and Gene Therapy Development at Sanofi.
(Reporting by Sahil Pandey in Bengaluru; Editing by Sherry Jacob-Phillips)
