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NEW YORK – Israeli cancer immunotherapeutics developer Biond Biologics said on Tuesday that it will receive $125 million upfront from Sanofi under an exclusive global licensing agreement to develop and commercialize its ILT2-targeting antagonist antibody BND-22 in solid tumors.

In addition to the upfront payment, Biond may also receive more than $1 billion in development, regulatory, and sales milestone payments from Sanofi, as well as tiered double-digit royalty payments.

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