Sanofi Partners With Lexicon to Develop Diabetes Solution
French pharmaceutical giant Sanofi is partnering with Lexicon Pharmaceuticals to develop and commercialize sotagliflozin to treat diabetes.
The deal was struck a day after Sanofi announced a licensing deal worth $4.2 billion with South Korea’s Hanmi Pharmaceutical for rights to a trio of next-generation diabetes medicine.
Sotagliflozin is being studied in two pivotal Phase 3 trials in Type 1 diabetes, and Phase 3 trials in Type 2 diabetes are expected to begin in 2016.
The Woodlands, Texas-based Lexicon will receive an upfront payment of $300 million, with the potential of milestone payments up to $1.4 billion. The company will be responsible for clinical development, and Sanofi will gain exclusive worldwide rights to develop, manufacture and commercialize sotagliflozin.