Ardelyx announced that it has licensed to Sanofi its novel phosphate transport NaP2b inhibitor program,also known as NaPi2b, Npt2b and SLC34A2. Ardelyx will receive an undisclosed upfront payment from Sanofi. Total development and regulatory milestones could potentially reach up to $198M. Ardelyx would also be entitled to royalties on product sales. In addition, Ardelyx retains an option to participate in co-promotional activities for the U.S. market.