AstraZeneca and MedImmune, its global biologics research and development arm, have entered into a $1.275 billion co-development and commercialization agreement with Innate Pharma SA, a biopharmaceutical company developing therapeutic antibodies for the treatment of cancer.
Wragge Lawrence Graham & Co's life sciences experts, led by partner Patrick Duxbury, advised AstraZeneca on the suite of agreements governing this complex transaction.
Patrick was assisted by senior associate Jenny Davies, associate Chris Freeth, partner Luke Kempton and Alexandra Rychner, an associate in Wragge Lawrence Graham & Co's Paris office. The team worked closely with AstraZeneca's in-house legal team, led by Senior Counsel Martin Sundblad.
The collaboration will accelerate and broaden the development of a prospective cancer treatment - Innate Pharma SA's proprietary anti-NKG2A antibody, IPH2201, including in combination with MEDI4736, an anti-PD-L1 immune checkpoint inhibitor developed by MedImmune.
IPH2201 is a potential first-in-class humanised IgG4 antibody. NKG2A is a checkpoint receptor that inhibits the anti-cancer functions of Natural Killer and cytotoxic T-cells.
Patrick Duxbury said: "We were thrilled to bring our life sciences expertise to bear for longstanding client AstraZeneca. This was a complex deal completed over a short timeframe. Our in-depth knowledge of transactions in the life sciences sector enabled us to assist AstraZeneca in delivering this important transaction for the business.
"Through the collaboration, AstraZeneca and Medimmune aim to address multiple immune pathways, harnessing AstraZeneca's own extensive pipeline and working together to explore the potential of immunotherapies in transforming the way cancer patients are treated."
The financial terms of the signed agreement include upfront and milestone payments of up to $1.275 billion to Innate Pharma as well as double digit royalties on sales.
AstraZeneca will make an initial payment to Innate of $250 million, which includes the consideration for exclusive global rights to co-develop and commercialise IPH2201 in combination with MEDI4736, as well as access to IPH2201 in monotherapy and other combinations in certain treatment areas. AstraZeneca will pay a further $100 million prior to initiation of Phase III development, as well as additional regulatory and sales-related milestones.
Wragge Lawrence Graham & Co's Life Sciences team comprises full-service expertise in IP, corporate, competition and EU, regulatory and dispute resolution matters. With a reputation for being "one of the country's leading transactional life sciences practices" (Chambers UK 2015), its clients range from global pharmaceutical companies and leading research and academic bodies, to small private companies and start-up businesses.
The team has completed a number of deals for AstraZeneca and recently advised on its collaboration with Eli Lilly and Company to jointly develop and commercialise AZD3293, an oral beta secretase cleaving enzyme (BASE) inhibitor currently in development as a potential treatment for Alzheimer's disease. Last year Luke Kempton advised AstraZeneca's Scientific Partnering and Alliances team on the transaction with the Belgian research institute VIB in relation to the target MALT1.
