Business

Selecta Biosciences and Sanofi sign global collaboration

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Selecta Biosciences Inc., a Watertown biopharmaceutical company specializing in synthetic vaccines and immunotherapies, said Wednesday that it has entered into a strategic global collaboration with Sanofi SA, the French drug maker that recently bought Cambridge-based Genzyme.

The collaboration between Selecta and Sanofi seeks to discover highly targeted immunotherapies for life-threatening allergies.

“Under the terms of the agreement Selecta is eligible to receive several pre-clinical, clinical, regulatory, and sales milestones totaling $300 million per allergen indication for up to three immunotherapy candidates contemplated by this collaboration,” the companies said in a press release. “Selecta is also entitled to up to double digit tiered royalties as percentage of product net sales for each commercialized immunotherapy.”

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