1. CBI’s 3 rd Annual Bio/Pharmaceutical Collaboration and Transaction Accounting Conference September 22, 2009 Joint Finance Committee Perspectives on How to Best Work with Collaborators and Manage Expectations
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5. 3rd Annual Bio/Pharmaceutical Collaboration and Transaction Accounting Conference September 22, 2009 Christian Blin, Vice President, sanofi-aventis Christopher Fenimore, Director of Finance, Regeneron
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8. Collaboration Agreements * 50% repayment from profits ** plus $475MM of research funding over 5 years Oncology Eye Disease Antibodies Inflammation sanofi-aventis Bayer HealthCare sanofi-aventis – Upfront/milestone payments $130MM $115MM $85MM – Development costs paid by partner * 100% ~ 50% ~ 100%** – Profit split — Regeneron share US 50% 100% 50% 100% Japan ~ 35% royalty 50% 35-45% 100% ROW 50% 50% 35-45% 100% Milestones remaining Regulatory $400MM $70MM – – Sales – $135MM $250MM –
Message is we have negotiated very favorable deals. In addition to substantial upfront and development funding from our collaborators, we own 50% of potential profits in the US in the sanofi deals; 100% of US and 50% ROW in the Bayer deal; and we own 100% of ARCALYST.
VelociSuite is a suite of technologies for quickly and cost-effectively identifying and validating novel drug targets and then developing highly specific human antibodies against those targets. We are proud that the NIH selected the target ID and validation technologies, VelociGene and VelociMouse, for its Knockout Mouse Project. In our own labs, we have identified and validated new targets in one year – work that often takes HOW LONG using more conventional approaches.
The value of our human antibody technology has been recognized – and monetized – by sanofi-aventis, which in 2007 entered into a global collaboration with us to discover, develop, and commercialize therapeutic human antibodies. [Continue talking through the slide.]