New Haven, CT-based Rib-X Pharmaceuticals announced today that it could receive about $772 million from Sanofi (NYSE: [[ticker:SNY]]) under a new research collaboration and option for Sanofi to license novel classes of antibiotics from Rib-X’s RX-04 program for the treatment of resistant Gram-negative and resistant Gram-positive infections. Sanofi paid $10 million upfront and could pay up to $9 million in near-term research milestones, as well as other clinical and commercialization milestones and royalties. Rib-X could also receive $86 million in development and regulatory milestones and $100 million in commercial milestones for each product identified in the collaboration—Sanofi is targeting four for now, but there is no upper limit, the companies said.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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