Sanofi, Lexicon Enter Collaboration And License Agreement For Sotagliflozin

(RTTNews) - Sanofi and Lexicon Pharmaceuticals Inc. (LXRX) announced they have entered into a collaboration and license agreement for the development and commercialization of sotagliflozin, which could be a potential treatment option for people with diabetes. Sotagliflozin is currently being studied in two pivotal Phase 3 trials in type 1 diabetes.

Sanofi obtains an exclusive worldwide license to develop, manufacture and commercialize sotagliflozin. Lexicon will continue to be responsible for all clinical development activities relating to type 1 diabetes.

Lexicon will receive an upfront payment of $300 million and is eligible to receive development, regulatory and sales milestone payments of up to $1.4 billion. Lexicon is also entitled to tiered, escalating double digit percentage royalties of net sales of sotagliflozin.