Sanofi (SNY) is partnering with Belgium's UCB to develop anti-inflammatory small molecules that could be used "to treat a wide range of immune-mediated diseases in areas such as gastroenterology and arthritis."
Sanofi will make upfront and milestone payments that have the potential to surpass €100M.
The companies will share costs and profits on a 50-50 basis.
The agreement is the latest example of a major pharmaceutical company looking externally for new drugs. (PR)