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Regeneron to receive minimum of $21.5 million over five years to supply VelociGene animal models
TARRYTOWN, NY, USA | August 5, 2008 | Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) announced today that it has entered into an agreement with sanofi-aventis (Euronext: SAN and NYSE: SNY) to use Regeneron's proprietary VelociGene technology platform to supply sanofi-aventis with genetically modified mammalian models of gene function and disease. Sanofi-aventis will pay Regeneron a minimum of $4.3 million annually for five years for knock-out and transgenic models of gene function for target genes identified by sanofi-aventis. Sanofi-aventis will use these models for its internal research programs, outside the scope of its antibody collaboration with Regeneron.
In November 2007, Regeneron and sanofi-aventis entered into a collaboration agreement for the discovery, development, and commercialization of human monoclonal antibodies based on Regeneron's proprietary VelociSuite of technologies, including VelociGene(R), VelociMouse(TM), VelocImmune(R), and VelociMab(TM). Over the first five years of the antibody agreement, sanofi-aventis is funding discovery research at Regeneron, including target identification, target validation, and antibody development. The VelociGene payments are in addition to the funding to be provided under the antibody agreement.
"We have extensive experience using the VelociGene platform as part of our internal research activities, and it has proven to be extremely useful for identifying new gene targets for drug research and development," noted David Valenzuela, Ph.D., Vice President of Functional Genomics and Chief of VelociGene Operations at Regeneron. "It is gratifying that scientists at sanofi-aventis appreciate the unique potential of VelociGene to produce rapidly and precisely, customized knock-out and transgenic expression models."
About VelociGene
The Regeneron VelociGene platform allows custom and precise manipulation of very large sequences of DNA to produce highly customized alterations, ranging from a single nucleotide to many millions of nucleotides, of a specific target gene and accelerates the production of knock-out and transgenic expression models without using either positive/negative selection or isogenic DNA. For example, in producing knock-out models, a color or fluorescent marker is substituted in place of the actual gene sequence, allowing for high-resolution visualization of precisely where the gene is active in the body, during normal body functioning, as well as in disease processes. Among other uses, VelociGene allows scientists to rapidly identify the physical and biological effects of deleting or over-expressing the target gene, as well as to characterize and test potential therapeutic molecules.
About Regeneron Pharmaceuticals
Regeneron is a fully integrated biopharmaceutical company that discovers, develops, and commercializes medicines for the treatment of serious medical conditions. In addition to ARCALYST(R) (rilonacept) Injection for Subcutaneous Use, its first commercialized product, Regeneron has therapeutic candidates in clinical trials for the potential treatment of cancer, eye diseases, and inflammatory diseases, and has preclinical programs in other diseases and disorders. Additional information about Regeneron and recent news releases are available on the Regeneron web site at www.regeneron.com.
SOURCE: Regeneron Pharmaceuticals |
