Sanofi licensed ADEL’s tau‑targeting antibody ADEL‑Y01 in a deal worth up to $1.04 billion, with $80 million paid up front and potential milestone and royalty payments thereafter. The asset is in U.S. Phase I and represents Sanofi’s second high‑value Alzheimer’s collaboration in recent days. ADEL’s candidate targets specifically configured tau species implicated in Alzheimer’s disease and related tauopathies; Sanofi will assume global rights and lead late‑stage development and commercialization. The companies highlighted potential near‑term milestones to de‑risk the program and expedite clinical translation.