Gowling WLG's Life Sciences team has advised AstraZeneca on an exclusive option and global license agreement with biotechnology company, Pinetree Therapeutics, for a preclinical EGFR degrader candidate.

Under the terms of the agreement, AstraZeneca will be granted an exclusive option to license Pinetree's preclinical EGFR degrader for global development and commercialization. In exchange, Pinetree will receive upfront and near-term payments of up to $45 million and is eligible to receive additional development and commercial milestone payments for a total deal value of over $500 million, as well as tiered royalties on net sales worldwide.

Pinetree is pioneering next generation targeted protein degraders (TPD) to combat drug resistance in oncology and other therapeutics areas.

Patrick Duxbury and Mathilda Davidson advised on the deal working closely with AstraZeneca Senior Corporate Counsel, Gracie Aguero.

Patrick Duxbury commented: "We are delighted to have worked with our long-standing client, AstraZeneca, on this agreement which will help to support their advancement of oncology treatments. Our team has a wide range of expertise and knowledge in life sciences to help our clients in their commercial activities."

Gowling WLG's global Life Sciences Group has the technical understanding required to advise on the unique challenges companies face throughout their life cycles. They draw on first-hand industry experience and extensive legal expertise to guide and support business, intellectual property, human resource and regulatory teams in key areas of life sciences.