Sanofi’s (SNY) will invest $400M in Vigil Neuroscience (VIGL), under which it will receive an exclusive “first right of negotiation” to license the company’s small molecule TREM2 agonist program, including VG-3927, Guggenheim tells investors. Guggenheim likes the deal as it validates this approach from a large strategic, while allowing Vigil to retain all optionality when it comes to future deals and extending their cash runway into 2026 in a non-dilutive way. Guggenheim made no change to its Buy rating on Vigil shares.
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