Gowling WLG advises Crescendo Biologics on collaboration with Takeda worth up to $790 million

2 minute read
11 October 2016

Gowling WLG's Life Sciences team, led by partner Patrick Duxbury and including associate Kathryn Charles, have advised client Crescendo Biologics on its collaboration with Takeda Pharmaceutical Company Limited to discover, develop and commercialise Humabody®-based therapeutics aimed at cancer indications with a high unmet medical need.

Crescendo, which develops Humabody®-based therapeutics, will use its patented transgenic platform and protein engineering specialism to discover and develop Humabody® candidates (Humabody® drug conjugates and immune-oncology modulators) against oncology targets nominated by Takeda.

The collaboration will allow both expert companies to join together to help develop an exciting next generation of highly differentiated drugs for treating cancer.

Partner Patrick Duxbury said: "We're always thrilled to advise on collaborations of this type, where there is real scope for medical and biological breakthroughs to occur. The assistance we provided required a deep understanding of the life sciences sector and transactions of this type to help to get the deal over the line.

"This is a significant step forward for both Crescendo and Takeda, and we wish their collaboration every success."

Under the term of the collaboration, Crescendo is entitled to receive up to $36 million via a series of milestones, funding, investment and upfront payment, while Takeda has the right to develop and commercialise selected Humabody®-based therapeutics arising from the partnership, triggering further payments of up $754 million.

Further payments are available for Crescendo, as are royalties on Humabody®-based product sales.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.

Related   Life Sciences