Regeneron Provides Update on Biologics License Application for Linvoseltamab
August 20, 2024 at 6:45 PM EDTTARRYTOWN, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that the U.S.
Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for linvoseltamab in
relapsed/refractory (R/R) multiple myeloma (MM) that has progressed after at least three prior therapies. This anticipated outcome was previously
disclosed during Regeneron’s second quarter 2024 earnings call.
The sole approvability issue identified is related to findings from a pre-approval inspection at a third-party fill/finish manufacturer for another company’s
product candidate. The third-party fill/finish manufacturer has since informed Regeneron that it believes the findings have been resolved, their facility isawaiting reinspection by the FDA, and it is expected to take place in the coming months.
Regeneron is committed to working closely with the third-party fill/finish manufacturer and the FDA to bring linvoseltamab to appropriate patients withR/R MM as quickly as possible, which is critical because most MM patients relapse and ultimately require additional therapies in late-line settings.
Regulatory review of linvoseltamab remains ongoing by the European Medicines Agency (EMA) in the same indication. Linvoseltamab isinvestigational, and its safety and efficacy have not been approved by any regulatory authority.
About Regeneron
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people
with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has
led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines andpipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases,
neurological diseases, hematologic conditions, infectious diseases, and rare diseases.
Regeneron pushes the boundaries of scientific discovery and accelerates drug development using our proprietary technologies, such as VelociSuite®,
which produces optimized fully human antibodies and new classes of bispecific antibodies. We are shaping the next frontier of medicine with
data-powered insights from the Regeneron Genetics Center® and pioneering genetic medicine platforms, enabling us to identify innovative targets andcomplementary approaches to potentially treat or cure diseases.
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
Forward-Looking Statements and Use of Digital MediaThis press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance ofRegeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking
statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions areintended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements
concern, and these risks and uncertainties include, among others, the nature, timing, and possible success and therapeutic applications of products
marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Products”) and productcandidates being developed by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Product Candidates”) and research andclinical programs now underway or planned, including without limitation linvoseltamab; the likelihood, timing, and scope of possible regulatory approvaland commercial launch of Regeneron’s Product Candidates (such as linvoseltamab, including any potential regulatory approval of linvoseltamab by
the U.S. Food and Drug Administration (the “FDA”) based on the Biologics License Application discussed in this press release (the “linvoseltamabBLA”) or the regulatory review by the European Medicines Agency referenced in this press release) and new indications for Regeneron’s Products; theimpact of the Complete Response Letter for the linvoseltamab BLA discussed in this press release (the “CRL”) on the timing of the potential regulatory
approval of linvoseltamab by the FDA and whether and how timely Regeneron and/or the third-party fill/finish manufacturer are able to resolve theissues identified in the CRL; uncertainty of the utilization, market acceptance, and commercial success of Regeneron’s Products and Regeneron’s
Product Candidates (such as linvoseltamab) and the impact of studies (whether conducted by Regeneron or others and whether mandated orvoluntary) on any of the foregoing or any potential regulatory approval of Regeneron’s Products and Regeneron’s Product Candidates; the ability ofRegeneron’s collaborators, licensees, suppliers, or other third parties (as applicable) (including the third-party fill/finish manufacturer referenced in thispress release) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron’s Products andRegeneron’s Product Candidates; the ability of Regeneron to manage supply chains for multiple products and product candidates; safety issues
resulting from the administration of Regeneron’s Products and Regeneron’s Product Candidates (such as linvoseltamab) in patients, including serious
complications or side effects in connection with the use of Regeneron’s Products and Regeneron’s Product Candidates in clinical trials; determinations
by regulatory and administrative governmental authorities which may delay or restrict Regeneron’s ability to continue to develop or commercialize
Regeneron’s Products and Regeneron’s Product Candidates; ongoing regulatory obligations and oversight impacting Regeneron’s Products, researchand clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement of Regeneron’s Products
from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit
management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers
and new policies and procedures adopted by such payers; competing drugs and product candidates that may be superior to, or more cost effective
than, Regeneron’s Products and Regeneron’s Product Candidates; the extent to which the results from the research and development programs
conducted by Regeneron and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates toclinical trials, therapeutic applications, or regulatory approval; unanticipated expenses; the costs of developing, producing, and selling products; theability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; thepotential for any license, collaboration, or supply agreement, including Regeneron’s agreements with Sanofi and Bayer (or their respective affiliatedcompanies, as applicable) to be cancelled or terminated; the impact of public health outbreaks, epidemics, or pandemics (such as the COVID-19
pandemic) on Regeneron's business; and risks associated with intellectual property of other parties and pending or future litigation relating thereto(including without limitation the patent litigation and other related proceedings relating to EYLEA® (aflibercept) Injection), other litigation and otherproceedings and government investigations relating to the Company and/or its operations, the ultimate outcome of any such proceedings andinvestigations, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more
complete description of these and other material risks can be found in Regeneron’s filings with the U.S. Securities and Exchange Commission,including its Form 10-K for the year ended December 31, 2023 and its Form 10-Q for the quarterly period ended June 30, 2024. Any forward-looking
statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements
made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without
limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.
Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including
information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on
Regeneron's media and investor relations website (https://investor.regeneron.com) and its LinkedIn page (https://www.linkedin.com/company/regeneron-pharmaceuticals).
Contacts:
Media Relations
Tammy Allen
Tel: +1 914-306-2698
tammy.allen@regeneron.com

Source: Regeneron Pharmaceuticals, Inc.

Investor Relations
Vesna Tosic
Tel: +1 914-847-5443vesna.tosic@regeneron.com