SOUTH SAN FRANCISCO, Calif. & SEATTLE--(BUSINESS WIRE)--Sonoma Biotherapeutics, Inc., a clinical-stage biotechnology company developing engineered regulatory T cell (Treg) therapies for autoimmune and inflammatory diseases, announced today that it has received a $45 million milestone payment from Regeneron Pharmaceuticals, Inc., under the terms of its active collaboration to discover, develop and commercialize engineered Treg therapies for autoimmune diseases.
“This payment marks a significant milestone in our evolution as a company and our collaboration with Regeneron, which has been going extremely well,” said Jeff Bluestone, Ph.D., Chief Executive Officer of Sonoma Bio. “The cutting-edge Regeneron technology for target identification and animal models, combined with Sonoma Bio’s Treg and cell therapy expertise, has enabled an effective collaboration in developing new treatment options for patients suffering from devastating autoimmune diseases.”
In March 2023, Sonoma Bio entered into a collaboration and license agreement with Regeneron to research, develop and commercialize Treg cell therapies for inflammatory bowel disease and two other undisclosed indications, with a Regeneron option for a fifth indication. The collaboration integrates Regeneron’s industry-leading VelociSuite® technologies for the discovery and characterization of fully human antibodies and T cell receptors (TCRs) with Sonoma Bio’s pioneering approach to developing and manufacturing gene-modified Treg cell therapies.
Under the terms of the agreement, Sonoma Bio received $75 million in upfront payments, which included a $30 million equity investment in Sonoma Bio by Regeneron. Sonoma Bio was also eligible to receive an additional $45 million development milestone payment, which has now been achieved. The parties are equally co-funding research and development for all potential products and will share equally any future commercial expenses and profits. Regeneron will have the option to lead late-stage development and commercialization on all products globally, with Sonoma retaining rights to co-promote all such products in the United States.
Sonoma Bio continues to retain full ownership of its lead Treg cell therapy candidate, SBT-77-7101, and other programs in development. The company has two ongoing Phase 1 trials of SBT-77-7101 in rheumatoid arthritis and hidradenitis suppurativa.
About Sonoma Biotherapeutics
Sonoma Biotherapeutics is a clinical-stage biotechnology company developing engineered regulatory T cell (Treg) therapies to treat serious autoimmune and inflammatory diseases by restoring balance to the immune system. Founded by pioneers in Treg biology and cell therapy, the company is employing proprietary platform technologies and approaches to develop a new generation of targeted and durable Treg cell therapies. Sonoma Biotherapeutics is based in South San Francisco and Seattle. For more information, visit sonomabio.com and follow on X, formerly Twitter, and LinkedIn.
