In the midst of a greater stock fluctuation for US-based IGM Biosciences, the company has entered a multimillion-dollar deal with French Sanofi, a competitor of Novo Nordisk on the insulin area. In aggregate numbers, the deal could reach over USD 6bn, a joint press release reports.
A more modest USD 150m starts the partnership off, with IGM Biosciences being the recipient of the upfront payment while Sanofi further expresses an interest in purchasing IGM shares for up to USD 100m.
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