Provention Bio, Inc. (NASDAQ:PRVB) rose 11.42% to $6.93 in early trading session on Friday as the company signed a co-promotion agreement with Sanofi (NASDAQ: SNY) U.S. for the launch of Provention’s principal experimental medication candidate, teplizumab. The agreement allows Provention Bio to leverage Sanofi’s expertise, capabilities, and commercial resources to support the potential launch of teplizumab, which is currently under FDA review for the delay of clinical type 1 diabetes in at-risk individuals, with a user fee goal date of November 17, 2022 for the Biologics License Application.
Chief Commercial Officer, Provention Bio, Jason Hoitt stated that this collaboration with Sanofi U.S. enables them to significantly expand their planned commercial footprint during launch in order to support increased screening and product awareness as they work to launch a new therapy that, if approved, will have a dramatic impact on the lives of the patients and families they serve. Sanofi’s long-standing partnerships with important U.S. healthcare providers, in particular, will complement their emphasis on pediatric endocrinologists and allow them to treat a bigger patient group more efficiently.
Olivier Bogillot, Head of U.S. General Medicines, Sanofi, stated, “We are delighted by the prospect of supporting Provention Bio in bringing to the U.S. what could become the first-in-class therapy to change the course of type 1 diabetes. If approved, Sanofi U.S. will leverage its existing world-class capabilities in diabetes care to enhance efforts in both patient and healthcare provider access. We are prepared to tap into all of our internal expertise to support the successful launch of this innovative therapy.”
Co-Founder and CEO, Provention Bio, Ashleigh Palmer stated that the arrangement provides considerable funding to Provention and allows them to move forward with their aim of developing medicines that prevent or postpone the onset of severe and life-threatening autoimmune disorders. They are excited to collaborate with their colleagues at Sanofi as they prepare to launch the first-ever disease-modifying medicine for T1D if authorized.
