VelocImmune ® License Agreement

Astellas, one of the largest pharmaceutical companies in Japan, has a non-exclusive license to our VelocImmune technology for use in its internal research programs to discover human monoclonal antibody products. The license was negotiated in 2007 and in 2010, Regeneron and Astellas agreed to extend the license through 2023. Under the amended agreement, Astellas made a $165 million upfront payment to Regeneron in 2010 and will make another payment of $130 million in June 2018 unless Astellas terminates the agreement prior to that date.

Academic VIP Program

Under our Academic VelocImmune Investigators Program (Academic VIP), we provide researchers at Columbia University Medical Center and The University of Texas Southwestern Medical Center at Dallas with access to the VelocImmune technology platform. Under the agreements, scientists at these universities may use VelocImmune mice to generate antibodies against their research targets and conduct research to discover potential human therapeutics based on the antibodies. Regeneron has an exclusive option to license the antibodies for development and commercialization as therapeutic or diagnostic products.

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