SAN FRANCISCO, Aug. 31 /PRNewswire/ -- Deloitte Recap recently presented the Allicense 2010 Breakthrough Alliance Award to pharmaceutical giant, Sanofi-aventis, and biotechnology firm, Exelixis, in recognition of their potential $1 billion alliance in which Exelixis gave Sanofi-aventis worldwide exclusive licenses for two early-stage cancer treatments and a stake in the development of PI3K inhibitor programs. In exchange, Sanofi-aventis provided Exelixis an upfront payment of $140 million with an additional guaranteed $21 million over the next three years for research and development and could total up to $1 billion in milestone payments.
The annual award, presented at the Deloitte Recap Allicense conference, honors the efforts of business development licensing professionals. Deloitte Recap analysts examined hundreds of biotech/big pharma deals signed in the previous year to identify the top five contenders for the deal of the year. Business development licensing professionals throughout the industry voted to identify a winner.
"Combining the research innovation of the biotech companies with the resources of global pharmaceutical corporations is essential to continued productivity in the life sciences industry," said Mark Edwards, managing director of Deloitte Recap LLC.
"Sanofi-aventis is extremely honored to have received the Allicense 2010 Deal of the Year Award for the Exelixis transaction," said Philippe Goupit, vice president of corporate licenses at Sanofi-aventis. "This transaction perfectly reflects our new strategy to engage true collaborative partnerships with highly reputable innovative biotech companies such as Exelixis. There is a lot to get out from such innovative types of collaboration for the ultimate benefit of patients."
Exelixis also was honored to win the Breakthrough Alliance Award in 2010 and 2009. "We are very excited to receive the Allicense deal award for a second y
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