Earendil, Velavigo out-license bispecifics to Western biopharmas: Deals Report

Two biotechs spanning East and West each found partners for out-licensing bispecifics this week, while a venture-backed start-up obtained rights to a rare disease program shelved by a big pharma.

Earendil Labs, which has disclosed little in what is likely a brief history thus far, said Sanofi (Euronext:SAN; NASDAQ:SNY) is paying $125 million up front for global rights to two bispecifics. The agreement includes milestones totaling more than $1.7 billion, plus royalties; Earendil said the agreement includes a $50 million near-term milestone...