New Haven drug developer Rib-X Pharmaceuticals Inc. says it got a $4 million milestone payment from French drug giant Sanofi as a result of the research collaboration the parties signed last summer.
The payment is Rib-X’s fourth – totaling $22 million — received following the signing with Sanofi last July of a worldwide research collaboration and option for license with Sanofi for novel classes of antibiotics resulting from Rib-X’s RX-04 program for the treatment of drug resistant pathogens.
Under the RX-04 agreement, Sanofi has the right to license an unlimited number of product candidates targeting a discrete binding site within the ribosome. Ribosomes are parts of cells that synthesize proteins.
Rib-X may collect up to $86 million per product for reaching research, development and regulatory milestones, up to a total of $100 million per product for hitting commercial milestones, plus sales royalties.
Rib-X also has the right under the collaboration to co-commercialize one RX-04 product of the Company’s choosing with Sanofi in the U.S.
