Recordati acquires CAD treatment rights from Sanofi in $825M deal

Oct. 4, 2024

Recordati announced an agreement with Sanofi to acquire the global rights to Enjaymo (sutimlimab), a biologic treatment for cold agglutinin disease (CAD), a rare B-cell lymphoproliferative disorder.

Enjaymo, a humanized monoclonal antibody, is the only approved targeted treatment for CAD, addressing hemolysis in affected adults. The drug was approved by regulatory authorities in the U.S., Europe, and Japan in 2022.

Under the agreement, Recordati will make an upfront payment of $825 million (€780 million) and up to $250 million (€235 million) in commercial milestone payments, contingent on sales targets. The transaction is expected to close by the end of 2024, pending regulatory approvals, and will be funded by existing cash and new bank debt facilities.

The drug generated around $105 million (€100 million) in revenue over the past 12 months, and Recordati projects it will exceed $158 million (€150 million) in 2025, with peak sales potential of $263-315 million (€250-300 million). 

Enjaymo is a first-in-class treatment that inhibits C1s in the classical complement pathway, preventing the destruction of red blood cells in CAD patients.