The partnership which was originally to end in 2012, has been extended by Regeneron Pharmaceuticals Inc. and French drug-maker Sanofi-Aventi, a news confirmed by both the companies, to 2017. The partnership has been extended to help Regeneron develop various experimental drugs which could prove to be much beneficial.

Under the agreement, yearly funding to its partner will be increased by Sanofi to $160 Million from the earlier figure of $100 Million, starting in 2010 through 2017. During each year, the companies aim at advancing atleast 4 to 5 medicines into clinical development.

After the previous partnership deal, which was signed in 2007, both drug makers have jointly moved as many as 4 developmental medicines into clinical development.

After the announcement, a fall of 2 cents was recorded by shares of Sanofi. On the other hand, Regeneron shares hiked by as much as 33 cents to close at $16.13. Sanofi has its headquarters in Paris, while Regeneron is headquartered in Tarrytown, New York.