Suzhou Innovent Biologics will develop two Sanofi cancer candidates in China with Sanofi investing $305 million in Innovent at a 20% premium to current prices. The drug candidates are (1) tusamitamab ravtansine, an anti-CEACAM5 antibody-drug conjugate in Phase III trials, and (2) non-alpha IL-2 in Phase II trials (combined with Innovent’s PD-1, sintilimab). Innovent will be responsible for China clinical development of both Sanofi candidates, but will commercialize only tusamitamab ravtansine. Sanofi will be eligible for $81 million in milestones…
