IGM Biosciences, Inc. (IGMS) said the company's collaboration agreement with Sanofi to create and develop IgM agonist antibodies will now focus exclusively on immunology/inflammation targets. IGM will retain global rights to its technology related to the oncology targets nominated by Sanofi.
"We are very pleased with our collaboration with Sanofi and with the preclinical data that we have generated in both the immunology/inflammation and the oncology portions of the collaboration," said Fred Schwarzer, CEO of IGM Biosciences.
Shares of IGM Biosciences are up 6% in pre-market trade on Wednesday.
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