       PartneringCollaborations are an important part of Rib-X's strategy as they provide funding to advance the Company's internal antibiotic drug discovery and clinical development programs and accelerate its growth into a commercial organization. Rib-X has the ability to enter into a wide variety of partnership agreements focused on its antibiotic research & discovery capabilities, development of existing compounds and commercialization of the Company's late-stage clinical programs.
Current collaborations include:
Sanofi
In June 2011, we entered into a collaboration and license agreement with Sanofi related to our RX-04 program. Under this agreement, Sanofi has the right to license an unlimited number of product candidates targeting a discrete binding site within the ribosome. We retain all rights pertaining to our proprietary drug discovery platform, including all other binding sites within the ribosome and all future programs, as well as to any RX-04 compound that Sanofi does not exercise its option to develop during the three-year term of the collaboration. We have received $22.0 million through March 31, 2012 in upfront and milestone payments under the collaboration, including the receipt of a payment of $3.0 million from Sanofi in January 2012 for the achievement of a research milestone. For each RX-04 product developed by Sanofi, we are eligible for up to $9.0 million in potential research milestone payments, up to $27.0 million in potential development milestone payments relating to initiation of Phase 1, 2 and 3 clinical trials, up to $50.0 million in potential regulatory milestone payments relating to approvals in various jurisdictions including the United States, the European Union and Japan, up to $100.0 million in potential commercial milestone payments, and tiered percentage royalties of up to 10% on sales from products commercialized under the agreement, if any. We also have the right under the collaboration to co-commercialize one RX-04 product of our choosing with Sanofi in the United States. We are currently collaborating with Sanofi on ongoing preclinical development and lead generation and, as part of a comprehensive safety assessment, we have just completed in vitro and in vivo profiling of the first cohort of leads from the RX-04 program that demonstrated strong potency and efficacy. These results have informed the next iteration of design and optimization. We expect the results of this optimization round to inform the selection of a lead compound in 2012 for toxicology studies followed by Phase 1 studies in humans.
For business development-related inquiries, please contact: Jarrod Longcor P: 203.848.3345
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