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Will Sanofi’s new partnership with IGM Biosciences to treat cancer boost the stock price?

Another new partnership for Sanofi. This time, the French laboratory is joining forces with the American biotech IGM Biosciences. The Sanofi stock posted a drop of 2.23% on Tuesday March 29 on the stock market, closing the session at 92 euros. We note a slight increase this morning of 0.85%,

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On March 29, Sanofi and IGM Biosciences announced an agreement to develop new cancer treatments, exploiting the potential of antibodies. The fight against immunological and inflammatory diseases is also included in this agreement.

For both parties, it is a question of collaborating on the entire chain of products, from research to manufacturing, without forgetting the marketing of “IgM agonist” antibodies. Sanofi will pay IGM $150 million to launch the partnership and, depending on its success, more than $6 billion thereafter.

Sanofi wants to forget the sad episode of anti-covid vaccines

In recent weeks, the pharmaceutical group has multiplied partnership agreements and is targeting oncology, vaccines and immunology. A desire to reinvent itself, after the bitter failure encountered with the development of anti-Covid-19 vaccines. The laboratory has thus inaugurated a new vaccine factory in France and also wants to quadruple its turnover in immunology by 2030. Promising prospects, which make Sanofi shares a buying opportunity.

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