March 23 (Reuters) - Kali Therapeutics said on Monday it has entered into a licensing agreement with French drugmaker Sanofi SASY.PA to develop the privately held firm's experimental treatment for several autoimmune diseases.
Here are the details:
Under the deal, Sanofi will obtain global rights to KT501, a tri-specific antibody utilizing Kali Therapeutics' proprietary discovery and research platform.
Kali Therapeutics will receive $180 million in upfront and near-term payments and is eligible for up to $1.05 billion in development and commercial milestone payments.
If the drug is approved, the company will also receive tiered royalties on product sales ranging from the high-single digits to double digits.
KT501 is currently being tested in an early-stage study in rheumatoid arthritis patients to assess its safety and how well the drug was tolerated.
Studies in non-human primates showed KT501 strongly reduced a type of white blood cells called B cell, while limiting harmful immune reactions that can happen with some similar treatments, Kali said.
The drug developer, which focuses on next-generation biologics, said KT501 is designed to target and modulate immune cells that trigger autoimmune disorders, a category that includes conditions such as lupus and rheumatoid arthritis.
Sanofi already markets Kevzara, an approved rheumatoid arthritis drug developed with Regeneron Pharmaceuticals REGN.O, and is also advancing new anti-inflammatory candidates.
(Reporting by Siddhi Mahatole and Kunal Das in Bengaluru)
((siddhi.mahatole@thomsonreuters.com;))