Regulus receives $10M equity investment from sanofi-aventis

Oct 29 2010

Regulus Therapeutics Inc. announced today that the Company has received a $10 million equity investment from sanofi-aventis in connection with the landmark alliance the two companies entered into on June 21, 2010. The equity investment by sanofi-aventis further strengthens the balance sheet of Regulus, and with this investment sanofi-aventis becomes the third investor in Regulus, along with its founding companies Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) and Isis Pharmaceuticals, Inc. (Nasdaq: ISIS).

“With the addition of $10 million from the sanofi-aventis equity investment, Regulus has to date raised $40 million from equity financings and over $58 million from strategic pharmaceutical alliances.”

"The alliance with Regulus underscores the commitment to innovation by sanofi-aventis as microRNAs represent a new therapeutic approach for developing medicines for treating serious diseases," said Philippe Goupit, Vice President of Corporate Licenses of sanofi-aventis. "Regulus has created a microRNA innovation engine that uniquely combines a deep understanding of microRNA biology with a mature oligonucleotide drug platform to effectively modulate microRNAs."

The alliance between Regulus and sanofi-aventis, valued at potentially over $750 million, is for the discovery, development and commercialization of microRNA therapeutics toward four targets including Regulus' leading fibrosis program targeting microRNA-21. The investment of $10 million in Regulus by sanofi-aventis represents less than 10% ownership of the preferred outstanding shares. The remaining preferred outstanding shares are owned equally by Alnylam and Isis.

"We are very pleased to be working in a partnership with sanofi-aventis for the development of microRNA therapeutics that could potentially open a new paradigm in the treatment of major diseases. Sanofi-aventis has an excellent track record for innovation and bringing value to patients," said Garry E. Menzel, Ph.D., Executive Vice President Corporate Development and Finance of Regulus. "With the addition of $10 million from the sanofi-aventis equity investment, Regulus has to date raised $40 million from equity financings and over $58 million from strategic pharmaceutical alliances."