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news.Shares in Regeneron Pharmaceuticals have risen over five percent after Sanofi-Aventis reaffirmed its commitment to co-develop the company's vascular endothelial growth factor Trap in oncology.
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The vascular endothelial growth factor (VEGF) Trap is a member of Regeneron’s proprietary family of “Trap” product candidates. Regeneron has developed patented methods of designing potential therapeutic molecules, termed “Traps”, that catch, hold and block certain harmful cytokines or growth factors.
The companies will evaluate the VEGF Trap in a variety of cancer types, both in single-agent studies and in combination with chemotherapy.
“This is an exciting time for us as we continue to gather evidence on the potential of the VEGF Trap to block the formation of blood vessels that fuel the growth of cancerous tumors,” noted Dr Leonard Schleifer, Regeneron’s president and CEO. “All of us at Regeneron are looking forward to working with Sanofi-Aventis to accelerate the development of the VEGF Trap.”
Sanofi-aventis also announced that Regeneron has earned a $25 million clinical development milestone payment. In addition, the companies have agreed that the exclusive right to develop and commercialize the VEGF Trap for eye diseases through local delivery systems now reverts to Regeneron.
In connection with this agreement, Sanofi-Aventis will make a one-time, final payment to Regeneron of $25 million of which 50% is repayable to Sanofi-Aventis following commercialization of the VEGF Trap.