We've updated our Privacy Policy to make it clearer how we use your personal data.

We use cookies to provide you with a better experience. You can read our Cookie Policy here.

Advertisement
Rib-X Pharmaceuticals Receives $3 Million Milestone Payment from Sanofi
News

Rib-X Pharmaceuticals Receives $3 Million Milestone Payment from Sanofi

Rib-X Pharmaceuticals Receives $3 Million Milestone Payment from Sanofi
News

Rib-X Pharmaceuticals Receives $3 Million Milestone Payment from Sanofi

Read time:
 

Want a FREE PDF version of This News Story?

Complete the form below and we will email you a PDF version of "Rib-X Pharmaceuticals Receives $3 Million Milestone Payment from Sanofi"

First Name*
Last Name*
Email Address*
Country*
Company Type*
Job Function*
Would you like to receive further email communication from Technology Networks?

Technology Networks Ltd. needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy

Rib-X Pharmaceuticals, Inc. announced the receipt of a $3 million milestone payment from Sanofi . The payment is the fourth received for milestones achieved following the signing in July 2011 of a worldwide research collaboration and option for license with Sanofi for novel classes of antibiotics resulting from Rib-X's RX-04 program for the treatment of drug resistant Gram-negative and Gram-positive pathogens. The payment, which was part of the pre-specified terms of the agreement, was for the achievement of research-based milestones.

"This milestone payment from Sanofi reflects the continued progress we have made in advancing the RX-04 program toward the clinic," said Mark Leuchtenberger, President and Chief Executive Officer at Rib-X Pharmaceuticals. "This is the fourth milestone we have reached since signing the partnership with Sanofi and we look forward to working hard toward our joint continued success."

Under the RX-04 agreement, Sanofi has the right to license an unlimited number of product candidates targeting a discrete binding site within the ribosome. Rib-X will retain all rights pertaining to their proprietary drug discovery platform, including all other binding sites within the ribosome and all future programs, as well as to any RX-04 compound that Sanofi does not exercise its option to develop during the three-year term of the collaboration. Rib-X has received $22.0 million to date in upfront and milestone payments under the collaboration. Rib-X may receive up to a total of $86.0 million per product for the achievement of research, development and regulatory milestones, up to a total of $100.0 million per product for the achievement of commercial milestones, and tiered percentage royalties up to the low double digits on commercial sales. Rib-X also has the right under the collaboration to co-commercialize one RX-04 product of the Company's choosing with Sanofi in the United States.

The RX-04 program is focused on using a discrete, novel binding site within the ribosome to design and develop new classes of antibiotics to treat some of the most deadly and difficult-to-treat, multi-drug resistant Gram-positive and Gram-negative infections. Using Rib-X's proprietary drug discovery platform, the Company has developed three novel classes of antibiotics in less than three years that bind to this ribosome site.

Advertisement