11:09 AM EDT, 09/12/2024 (MT Newswires) -- Sanofi ( SNY ) said Thursday it has signed a licensing agreement with RadioMedix and Orano Med to focus on AlphaMedix, a late-stage project currently being evaluated to treat adult patients with unresectable or metastatic, progressive somatostatin-receptor expressing neuroendocrine tumors.

Under the terms, Sanofi ( SNY ) will oversee the global commercialization of AlphaMedix, while French clinical-stage biotechnology firm Orano Med will be responsible for the manufacturing of AlphaMedix, Sanofi ( SNY ) said.

RadioMedix and Orano Med will receive an upfront payment of 100 million euros ($110.4 million) and up to 220 million euros in sales milestones.

The US Food and Drug Administration granted breakthrough therapy designation to AlphaMedix in gastroenteropancreatic neuroendocrine tumors, the firm said.

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