BioPharma Dive October 17, 2024
Ned Pagliarulo

The French drugmaker will invest 300 million euros into a new entity that will develop lead isotope-based therapies for cancer.

Dive Brief:

  • Sanofi will invest 300 million euros, or about $325 million, for a roughly 16% stake in a new joint venture set up to develop radiopharmaceutical drugs for rare cancers.
  • The newly created entity will operate under the banner of Orano Med, a radiopharmaceutical developer and Sanofi’s partner in the joint venture. Orano Med, which is a subsidiary of the Orano Group, specializes in versions of the targeted cancer therapy that use a radioisotope known as lead-212.
  • Last month, Sanofi licensed an experimental radiopharma drug for neuroendocrine tumors, paying Orano Med and U.S.-based RadioMedix 100 million euros upfront...

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Topics: Biotechnology, Mergers & Acquisitions / JV, Pharma, Pharma / Biotech, Trends
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