PARIS French and Belgian drugmakers Sanofi and UCB have entered a partnership aimed at finding treatments for so-called immune-mediated diseases in areas such as rheumatoid arthritis and inflammatory bowel conditions.
The two companies would share costs and profits on a 50:50 basis, Sanofi said in a statement on Tuesday.
UCB will be entitled to initial upfront, preclinical and clinical development milestone payments from Sanofi that could exceed 100 million euros ($139 million), Sanofi added.
($1 = 0.7205 Euros)
(Reporting by James Regan; Editing by Blaise Robinson)