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Sanofi SA announced on Thursday that it has reached a licensing agreement worth up to €320 million ($353 million) with U.S.-based biotechnology company RadioMedix Inc. and French developer Orano Med for an exclusive license to AlphaMedix, a radiation treatment targeting rare cancers.

Sanofi €320M Licensing Deal : Details of the Agreement

Sanofi will pay €100 million upfront and up to €220 million in milestone payments as the drug progresses. The deal also includes tiered royalties for both RadioMedix and Orano Med based on future sales. AlphaMedix, a radioligand therapy that uses radioactive drugs to target cancer cells, is being developed to treat adults with neuroendocrine tumors, specifically gastroenteropancreatic neuroendocrine tumors.

Sanofi will handle global marketing, while Orano Med, a subsidiary of the French nuclear fuel company Orano SA, will be responsible for manufacturing. RadioMedix, based in Houston, sponsored the clinical trials of AlphaMedix.

Collaborations and Market Impact

Sanofi Chief Medical Officer Dietmar Berger emphasized the importance of the deal, saying, “This agreement underscores our efforts to explore innovative collaborations that leverage novel technologies to address the needs of people living with cancer.”

RadioMedix CEO Ebrahim S. Delpassand highlighted the potential of AlphaMedix, noting that the partnership with Sanofi aims to bring the therapy to more patients globally.

Sanofi €320M Licensing Deal : Legal and Financial Advisors

Orano Med is being advised by McDermott Will & Emery LLP on legal matters, while Moelis & Co. is providing financial guidance. Counsel for Sanofi and RadioMedix was not immediately available.