Ropes & Gray represented LianBio in an agreement with Bristol Myers Squibb where BMS has obtained LianBio’s exclusive rights to develop and commercialize heart drug mavacamten, in mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand, in conjunction with termination of the exclusive license agreement LianBio previously entered into with MyoKardia, Inc., now a wholly owned subsidiary of BMS, in August 2020 to acquire these rights. The agreement was announced on October 24.
Under the agreement, LianBio will receive a $350 million one-time payment. In addition, LianBio will be released from payment obligations of up to $127.5 million in remaining milestone payments under the MyoKardia license agreement.
Mavacamten is approved in the U.S. as Camzyos to treat symptomatic obstructive hypertrophic cardiomyopathy, a condition that can affect the function of the heart by blocking or reducing blood flow to the rest of the body. In April 2023, the China National Medical Products Administration accepted with Priority Review a New Drug Application for mavacamten for treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy.
The Ropes & Gray LianBio team was led by life sciences partners Eric Wu and Hannah England and capital markets partner Zach Blume and included capital markets partner Tom Danielski, life sciences partner Katherine Wang, IP transactions partner Melissa Rones, tax partner David Saltzman, employment & benefits partner Renata Ferrari, litigation & enforcement partner Rocky Tsai, and employment & benefits principle Christine Joyce.
