November 10, 2009 / 10:46 PM / 10 years ago

UPDATE 1-Regeneron, Sanofi, expand drug partnership

 * Sanofi to increase payments to Regeneron under drug deal
 * New agreement expands expiration date of deal  (Updates with details)
 NEW YORK, Nov 10 (Reuters) - Regeneron Pharmaceuticals Inc (REGN.O) and French drugmaker Sanofi-aventis (SASY.PA) said on Tuesday they have expanded their partnership to develop a number of Regeneron’s experimental drugs.
 Sanofi will increase its annual funding to Regeneron to $160 million from $100 million beginning in 2010, and the funding will extend through 2017.
 The agreement extends a previous deal that was scheduled to expire at the end of 2012.
 The companies aim to advance an average of four to five drug candidates into clinical development each year.
 Regeneron’s experimental drug aflibercept is now being tested in late-stage clinical trials, in partnership with Sanofi, in lung cancer, prostate cancer and colorectal cancer.
 To date, Regeneron and Sanofi have moved four experimental drugs into clinical development.
 Regeneron, which is based in the suburban New York village of Tarrytown, is also developing drugs for gout and macular degeneration — a leading cause of blindness.
 Regeneron’s shares closed up 12 cents at $15.80 on Tuesday on the Nasdaq.  (Reporting by Toni Clarke, editing by Matthew Lewis)   

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