Rib-X Inks Research Agreement With Sanofi

7/6/11Follow @xconomy

New Haven, CT-based Rib-X Pharmaceuticals announced today that it could receive about $772 million from Sanofi (NYSE: SNY) under a new research collaboration and option for Sanofi to license novel classes of antibiotics from Rib-X’s RX-04 program for the treatment of resistant Gram-negative and resistant Gram-positive infections. Sanofi paid $10 million upfront and could pay up to $9 million in near-term research milestones, as well as other clinical and commercialization milestones and royalties. Rib-X could also receive $86 million in development and regulatory milestones and $100 million in commercial milestones for each product identified in the collaboration—Sanofi is targeting four for now, but there is no upper limit, the companies said.

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