French healthcare company Sanofi S.A. (Euronext Paris:SAN) (Nasdaq:SNY) announced on Thursday a strategic partnership with RadioMedix Inc and Orano Med to develop AlphaMedix, a promising radioligand therapy for rare cancers.

RadioMedix is a US clinical-stage biotechnology company developing radiopharmaceuticals for PET imaging and targeted alpha therapy (TAT) against unmet medical needs in cancer. French clinical-stage biotechnology company Orano Med, a subsidiary of the Orano Group, is developing lead-212 (212Pb) radioligand therapies (RLTs) against cancer.

AlphaMedix (212Pb-DOTAMTATE) is currently being evaluated for the treatment of adult patients with unresectable or metastatic, progressive somatostatin-receptor expressing neuroendocrine tumors (NETs), a rare cancer. AlphaMedix is a TAT which consists of a somatostatin receptor-targeting peptide complex radiolabeled with lead-212 (212Pb) that serves as an in vivo generator of alpha particles. It recently received Breakthrough Therapy Designation from the US Food and Drug Administration (FDA) for patients who are naïve to peptide-receptor radionuclide therapy.

Under the terms of the exclusive licensing agreement Sanofi will commercialise AlphaMedix globally, while Orano Med will manufacture the drug. RadioMedix and Orano Med will receive an upfront payment of EUR100m and up to EUR220m in milestone payments, as well as tiered royalties.