Singapore, Dec. 17 -- ADEL, Inc., a South Korea-based biopharmaceutical company dedicated to developing therapies for neurodegenerative diseasessuch as Alzheimer's Disease, has entered into an exclusive worldwide license agreement with Sanofi, a multinational healthcare company, for the development and commercialisation of ADEL-Y01, a potential first-in-class antibody therapy for Alzheimer's disease, and related backup compounds.

The total potential value of the agreement is up to $1.04 billion. ADEL will receive a non-refundable upfront payment of $80 million and is eligible to receive additional payments contingent upon the achievement of specified development and commercial milestones. Additionally, ADEL is entitled to receive tiered ...