Antifungal out, cancer in: Revolution scores $500M Sanofi deal on first oncology program

Less than a year ago, Third Rock startup Revolution Medicines shed its antifungal ambitions and remade itself as an oncology company. Now, the Redwood City-based biotech has apparently wooed Sanofi $SNY into a bang up deal on its first cancer program.

The company said Wednesday that Sanofi will be picking up the check for its lead program’s R&D, while offering a $50 million upfront payment and up to $500 million in gated milestones. The two companies are also sharing US profits (and losses) in a 50/50 split — an unusually balanced deal for an early-stage biotech like Revolution to finagle.

 

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