Rib-X Pharmaceuticals, Inc. Receives $3 Million Milestone Payment from Sanofi Pasteur (SASY.PA)i in the RX-04 Collaboration
2/7/2012 6:57:46 AM
NEW HAVEN, Conn.--(BUSINESS WIRE)--Rib-X Pharmaceuticals, Inc. announced today the receipt of a $3 million milestone payment from Sanofi (EURONEXT: SAN and NYSE: SNY). The payment is the fourth received for milestones achieved following the signing in July 2011 of a worldwide research collaboration and option for license with Sanofi for novel classes of antibiotics resulting from Rib-X’s RX-04 program for the treatment of drug resistant Gram-negative and Gram-positive pathogens. The payment, which was part of the pre-specified terms of the agreement, was for the achievement of research-based milestones.