Regeneron (REGN) and Sanofi-Aventis (SNY) announced Tuesday that the two companies will extend their November 2007 antibody collaboration, and will expand the program.

Sanofi-Aventis  will increase annual funding for the project from $100 million to $160 million, starting in 2010, according to a release. The company will continue to provide funding for the program through 2017.

Regeneron will continue to contribute its VelocImmune technology, as well as technology related to the generation of antibodies.

“The expansion of our collaboration provides even greater resources over a longer time horizon and will boost our efforts to build a deep pipeline of new human antibody product candidates,” said Leonard S. Schleifer, president and chief executive officer of Regeneron. "Sanofi-Aventis  is an ideal partner with the expertise and global reach to collaborate with us on our mission to bring important new medicines to patients around the world.”

Shares of Regeneron jumped nearly 20%, up $3.15 to close at $18.95 per share in Wednesday’s session.