Company News: Sanofi Licenses Worldwide Rights on Regenerative Treatment for Osteoarthritis and Cartilage Disorders from Scil Technology
Scil Technology GmbH, a privately held biopharmaceutical company with core expertise in protein drug development, formulation and analytics, today announced that Sanofi (EURONEXT: SAN and NYSE: SNY) has exclusively licensed Scil Technology’s program for the regenerative treatment of osteoarthritis and cartilage disorders.
Under the agreement, SCIL Technology will receive an upfront payment and potential milestone payments totaling up to EUR 180 million. Moreover, the company is entitled to receive undisclosed royalties on worldwide product sales. Sanofi will assume responsibility for the progression of the development program with immediate effect, including the start of clinical trials.
The program is based on targets for the regeneration of cartilage tissue, which also stimulate chondrocyte differentiation and the synthesis of cartilage matrix. The leading compound is based on a proprietary formulation for direct delivery into the joint, making it an excellent treatment option for osteoarthritis. The program is currently in advanced preclinical development.
The cartilage regenerative program is Scil Technology’s second program which has been out-licensed successfully. The first (GDF-5) was taken over by Medtronic after completion of Phase II.