Just weeks following its agreement with Translate Bio (NASDAQ: TBIO) for COVID-19 vaccine development, Sanofi (NYSE: SNY) has a new agreement with Kymera Therapeutics Inc.

Sanofi and Kymera are signing a multi-program collaboration to develop and commercialize first-in-class protein degrader therapies targeting IRAK4 in patients with immune-inflammatory diseases. IRAK4 is believed to play a key role in multiple immune-inflammatory diseases, including hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis.

Kymera will receive $150 million in cash upfront and may receive more than $2 billion in potential development, regulatory and sales milestones, as well as significant royalty payments.

Sanofi will gain global rights to develop its small molecule IRAK4 protein degraders in inflammation and immunology indications, and a second earlier stage undisclosed program.

Kymera will conduct Phase 1 clinical trials, and Sanofi will assume responsibility after, including all clinical development activities for the second program. Kymera will have the option to participate in programs in the U.S. during clinical development and will retain global rights to its IRAK4 program in oncology indications.

Aside from its COVID-19 vaccine collaboration with Translate Bio, Sanofi hasn’t made much commotion in 2020, according to DSO. In December 2019, the company purchased Synthorx, Inc., a clinical-stage biotechnology company focused on treating cancer and autoimmune disorders, for $2.5 billion. Sanofi gained Synthorx’s proprietary immuno-oncology (IO) platform, which will bolster the company’s existing therapeutic platforms. In July 2019, Sanofi announced a much smaller deal in terms of price. The company bought the rights to Copiktra in Russia from Verastem Oncology (NASDAQ: VSTM) for $5 million.