Sidley represented Changchun GeneScience (GenSci) Pharmaceuticals, a China-based biotechnology company, in its exclusive out-license transaction with Yarrow Bioscience, a U.S.-based biotechnology company backed by RTW Investors, for the ex-China rights to a potential first-in-class antibody therapy for the treatment of Graves’ disease and thyroid eye disease. The transaction includes an upfront payment of US$70 million, US$50 million in near-term development milestone payments, and potential future milestone payments that could bring the total deal value to approximately US$1.37 billion. GenSci is also eligible to receive tiered double-digit royalties on future ex-China sales of the product.
The transaction was led by partner James Lu (Emerging Companies and Venture Capital) and counsel Adam Welland (Technology and Life Sciences Transactions); it included Torrey Cope (Food, Drug and Medical Device); Rollin Ransom and Eric Schwartz (Commercial Litigation and Disputes); and Jean Qiu (Technology and Life Sciences Transactions).
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