Ropes & Gray advised Nona Biosciences, a company focused on antibody discovery services, in an exclusive license agreement with Pfizer (Seagen) for the rights to Nona’s mesothelin-targeted antibody-drug candidate HBM9033.
Under the terms of the agreement, Nona Biosciences will receive a total of up to $53 million in upfront and near-term payments, with the potential for additional payments of up to $1.05 billion upon achieving certain development and commercial milestones. Nona Biosciences is also eligible to receive tiered royalties on net sales ranging from high single digits to high teens. The transaction was announced on December 15th.
The Ropes & Gray team was led by life sciences licensing partner Abigail Gregor and life sciences licensing associate Nicole Rohr.
