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Innovent Biologics and Sanofi have announced a collaboration to bring innovative medicines to patients in China with difficult-to-treat cancers. Both companies are devoted to accelerating the development and commercialization of two key clinical-stage oncology assets from Sanofi: Phase III SAR408701 (tusamitamab ravtansine; anti-CEACAM5 antibody-drug conjugate) and Phase II SAR444245 (non-alpha IL-2), both of which are intended to be combined with sintilimab, the top checkpoint inhibitor in China. Sanofi will contribute $300 million to Innovent in addition to the collaboration and license agreement by subscribing for additional common shares. The agreement stipulates that Innovent will be responsible for tusamitamab’s development and exclusive commercialization in China for a variety of oncology-based purposes. Upon clearance, Sanofi will be eligible to receive royalties on the net sales of the product in China and development milestone payments of up to €80 million

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