Sanofi-Aventis Signs License Deal With Kyowa Hakko Kirin

   Edited Press Release 
 

PARIS -(Dow Jones)- Pharmaceutical giant Sanofi-Aventis SA (SNY) and Kyowa Hakko Kirin Co. Ltd. (4151.TO) Thursday said they have signed a collaboration and licensing agreement under which Sanofi receives worldwide rights to Kyowa Hakko Kirin's "anti-LIGHT" fully human monoclonal antibody.

Kyowa Hakko Kirin will receive an upfront payment as well as milestone payments depending on the successful achievement of certain development steps.

The total value of those upfront and milestone payments could reach $315 million.

Kyowa Hakko Kirin will further be entitled to receive royalties on sales when the product is commercialized.

This anti-LIGHT antibody is presently at preclinical stage. It is expected to be the first in class in Ulcerative Colitis and in Crohn's disease.

The development could be pursued in further indications such as Rheumatoid Arthritis.

Under the terms of the agreement Sanofi-Aventis will have exclusive rights to develop the product worldwide, except in Japan and Asian countries where both parties will co-develop the product.

Kyowa Hakko Kirin retains the rights to market th product in Japan and in Asia, while Sanofi-Aventis has exclusive rights to market and sell the product in the rest of the world.

In addition, each party has an option to co-promote the product in the territory of the other party.

Company Web site: www.sanofi-aventis.com

(END) Dow Jones Newswires

May 14, 2009 02:25 ET (06:25 GMT)

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