Sanofi Downsizes IGM Antibody Deal, Reduces Oncology Focus

1. Sanofi has adjusted its antibody discovery deal with IGM Biosciences, focusing on non-oncology targets.
2. The initial deal, signed in 2022, involved Sanofi paying $150 million upfront to develop IgM antibodies against six targets, with half of these targets being for cancer.
3. Sanofi's decision to drop the oncology-focused portion of the deal has nearly halved the overall value from $6 billion to $3.2 billion.
4. This move is part of Sanofi's reprioritization of its pipeline, suggesting a cooling of interest in cancer research.