PARIS, Nov 9 (Reuters) - Sanofi will develop and sell an oral treatment candidate for multiple sclerosis owned by U.S firm Principia Biopharma in a licensing agreement that could total $765 million, the French drugmaker said on Thursday.
Under the terms of the deal, Principia will grant Sanofi an exclusive, worldwide license to develop and commercialise PRN2246, a drug currently in phase 1 clinical trial.
“Sanofi will pay Principia a $40 million upfront payment, future milestone payments that could total $765 million and royalties on product sales,” the companies said in a statement.
Sanofi, which currently sells two drugs dealing with multiple sclerosis - an area where it is keen to grow - also said PRN2246 had the potential to address other central nervous system diseases. (Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta)