Benzinga | Mar 16, 2021 09:19AM EDT

GBT In-Licenses Two Sickle Cell Disease Programs From Sanofi

Global Blood Therapeutics Inc (NASDAQ: GBT) has exclusively in-licensed worldwide rights to two early-stage research programs in sickle cell disease from Sanofi SA (NASDAQ: SNY).

* One program pursues a novel anti-sickling mechanism, and the other leverages a new approach to reduce inflammation and oxidative stress.

* Sanofi's Bioverativ subsidiary's programs supplement GBT's existing pipeline and support the company's strategy to address sickle cell disease from multiple approaches.

* Under the terms of the agreement, GBT will conduct all research, development, regulatory, and commercialization activities worldwide.

* Sanofi will receive an upfront payment and is entitled to payments up to approximately $353 million in milestone payments and single-digit tiered royalties on worldwide net sales.

* Price Action: GBT shares are up 0.2% at $46.1, and SNY shares are up 0.4% at $48.9 in premarket on the last check Tuesday.