Mr Pierre Chancel, senior vice president, diabetes division, Sanofi
Afrezza is a new, rapid-acting inhaled insulin therapy for adults with type-1 and type-2 diabetes.
Under the terms of the agreement, MannKind Corporation will receive an upfront payment of $150 million and potential milestone payments of up to $775 million.
The USFDA approved Afrezza Inhalation Powder on June 27, 2014, to improve glycemic control in adult patients with diabetes mellitus.
The milestone payments are dependent upon specific regulatory and development targets, as well as sales thresholds. Sanofi and MannKind will share profits and losses on a global basis, with Sanofi retaining 65 percent and MannKind receiving 35 percent.
Sanofi has agreed to advance to MannKind its share of the collaboration's expenses up to a limit of $175 million.