Sanofi-aventis and Regeneron Pharmaceuticals Inc. have amended their vascular endothelial growth factor (VEGF) trap collaboration agreement to include Japan. The companies will now collaborate on the joint development and commercialisation of the VEGF trap throughout the world in all indications, except for intraocular delivery to the eye.
According to the company release, as remuneration for the inclusion of Japan into the VEGF trap collaboration, Regeneron will receive an upfront payment of $25 million, milestone payments related to potential approvals in Japan, and royalties on sales of the VEGF trap in Japan. Sanofi-aventis will lead and fund the development of the VEGF trap in Japan.
Under the collaboration agreement, sanofi-aventis will pay 100% of VEGF Trap development expenses; and, following commercialisation of a VEGF Trap product, Regeneron will repay 50% of the development costs paid by sanofi-aventis out of VEGF trap profits, including the Japanese royalty.
Vascular endothelial growth factor (VEGF) is a naturally occurring protein in the body whose normal role is to trigger formation of new blood vessels (angiogenesis) to support the growth of the body's tissues and organs.
Sanofi-aventis is the world's third largest pharmaceutical company, ranking number one in Europe.