GENFIT : GENFIT-SANOFI Collaboration: Second Milestone achieved with success
Second Milestone achieved with success
Lille (France), Boston (Massachusetts, United States), January 22, 2013 -
GENFIT (Alternext: ALGFT; ISIN: FR0004163111), a biopharmaceutical company at
the forefront of drug discovery and development, focusing on the early
diagnosis and preventive treatment of cardiometabolic and associated
disorders, today announces the demonstration of the activity of several
chemical series, selected as part of the second approach of its research
program with SANOFI.
The achievement of this second key milestone follows on from the first one in
April 2012, in the context of the research contract signed in March 2011 for a
period of three years, during which SANOFI and GENFIT are committed to working
together on the discovery and development of new drug candidates targeting
several metabolic disorders.
With this demonstration, a second scientific foundation stone is thus placed
for one of the approaches of this research program targeting mitochondrial
dysfunction. These results confirm the hypothesis, formulated in early 2011 on
the basis of clinical observations, that the adaptation to stress of cellular
mechanisms regulating energy production offers a therapeutic potential in
numerous pathologies including metabolic diseases.
In accordance with the terms of the contract, whereby SANOFI obtained the
exclusive worldwide rights to develop and commercialize the molecules arising
from the research collaboration, GENFIT has received the second of the
milestone payments included in the collaboration and licensing agreement.
Depending on the preclinical and clinical development, and the subsequent
registration and commercialization of resulting products, the total of the
milestone payments included in the agreement could reach $54.5 million (€39
million), in addition to royalties from future sales of products developed by
SANOFI and resulting from the collaboration.
GENFIT is a biopharmaceutical company focused on the Discovery and Development
of drug candidates in therapeutic fields linked to cardiometabolic disorders
(prediabetes/diabetes, atherosclerosis, dyslipidemia, inflammatory diseases.).
GENFIT uses a multi-pronged approach based on early diagnosis, preventive
solutions, and therapeutic treatments and advances therapeutic research
programs, either independently or in partnership with leading pharmaceutical
companies, including Sanofi, to address these major public health concerns and
their unmet medical needs.
GENFIT's research programs have resulted in the creation of a rich and
diversified pipeline of drug candidates at different stages of development,
including GENFIT's lead proprietary compound, GFT505, that is currently in
With facilities in Lille, France, and Cambridge, MA (USA), the Company has
approximately 80 employees. GENFIT is a public company listed on the Alternext
trading market by Euronext(TM) Paris (Alternext: ALGFT; ISIN: FR0004163111).
Jean-François Mouney - CEO & Chairman of the Management Board - Ph. +333 2016
Milestones - Press Relations
Bruno Arabian Ph. +331 7544 8740 / +336 8788 4726 - firstname.lastname@example.org
2013.01.22 PR GENFIT-SANOFI.
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Source: GENFIT via Thomson Reuters ONE
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