Sanofi (SNYNF, SNY) and SK bioscience have broadened their partnership to innovate, license, and market advanced pneumococcal vaccines for both children and adults. This enhanced collaboration builds on their ongoing efforts to develop and commercialize a PCV21 pediatric vaccine, with the phase 3 trials having started last week.
According to the terms of this expanded partnership, both companies will share the financial responsibilities for research and development. Sanofi will provide an upfront payment of 50 million euros to SK bioscience, which will be followed by further payments based on achieving development and commercial milestones. Once the vaccines receive regulatory approval, Sanofi will handle global commercialization, with the exception of South Korea, where SK bioscience retains exclusive sales rights. SK bioscience will earn royalties on the sales of the products outside South Korea.
