LONDON (MarketWatch) -- Regulus Therapeutics Inc and Sanofi-Aventis said that they have entered into a global, strategic alliance to discover, develop, and commercialize microRNA therapeutics.

The alliance is potentially valued at over $750 million and includes a $25 million upfront fee, a $10 million future equity investment subject to valuation agreement, and annual research support for three years with the option to extend two additional years.
The alliance will initially focus on the therapeutic area of fibrosis. Sanofi-Aventis also receives an option for a broader technology alliance.
If exercised, this three-year option is worth an additional $50 million to Regulus.