GENFIT-SANOFI Collaboration:
Second Milestone achieved with success
Lille (France), Boston (Massachusetts, United States), January 22, 2013 - GENFIT (Alternext: ALGFT; ISIN: FR0004163111), a biopharmaceutical company at the forefront of drug discovery and development, focusing on the early diagnosis and preventive treatment of cardiometabolic and associated disorders, today announces the demonstration of the activity of several chemical series, selected as part of the second approach of its research program with SANOFI.
The achievement of this second key milestone follows on from the first one in April 2012, in the context of the research contract signed in March 2011 for a period of three years, during which SANOFI and GENFIT are committed to working together on the discovery and development of new drug candidates targeting several metabolic disorders.
With this demonstration, a second scientific foundation stone is thus placed for one of the approaches of this research program targeting mitochondrial dysfunction. These results confirm the hypothesis, formulated in early 2011 on the basis of clinical observations, that the adaptation to stress of cellular mechanisms regulating energy production offers a therapeutic potential in numerous pathologies including metabolic diseases.
In accordance with the terms of the contract, whereby SANOFI obtained the exclusive worldwide rights to develop and commercialize the molecules arising from the research collaboration, GENFIT has received the second of the milestone payments included in the collaboration and licensing agreement. Depending on the preclinical and clinical development, and the subsequent registration and commercialization of resulting products, the total of the milestone payments included in the agreement could reach $54.5 million (€39 million), in addition to royalties from future sales of products developed by SANOFI and resulting from the collaboration.
About GENFIT:
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in therapeutic fields linked to cardiometabolic disorders (prediabetes/diabetes, atherosclerosis, dyslipidemia, inflammatory diseases.). GENFIT uses a multi-pronged approach based on early diagnosis, preventive solutions, and therapeutic treatments and advances therapeutic research programs, either independently or in partnership with leading pharmaceutical companies, including Sanofi, to address these major public health concerns and their unmet medical needs.
GENFIT's research programs have resulted in the creation of a rich and diversified pipeline of drug candidates at different stages of development, including GENFIT's lead proprietary compound, GFT505, that is currently in Phase IIb.
With facilities in Lille, France, and Cambridge, MA (USA), the Company has approximately 80 employees. GENFIT is a public company listed on the Alternext trading market by Euronext(TM) Paris (Alternext: ALGFT; ISIN: FR0004163111). www.genfit.com
Contacts:
GENFIT
Jean-François Mouney - CEO & Chairman of the Management Board - Ph. +333 2016 4000
Milestones - Press Relations
Bruno Arabian Ph. +331 7544 8740 / +336 8788 4726 - barabian@milestones.fr
