Our Life Sciences team has advised long-standing client AstraZeneca on a collaboration and license agreement with biopharmaceutical company Quell Therapeutics. The deal will see the two companies come together to develop, manufacture and commercialise engineered T-regulator cell therapies for treating certain autoimmune diseases.
Under the agreement, AstraZeneca will pay Quell Therapeutics an upfront payment of $85 million, comprising a cash payment and equity investment. There will also be further payment of up to $2 billion, contingent on agreed development and commercialisation milestones being reached, plus tiered royalties. In addition, there is an option for Quell Therapeutics to co-develop T-regulator cell therapies with AstraZeneca in the US in the future.
Gowling WLG's head of life sciences in the UK, Patrick Duxbury, together with fellow life sciences partner Jenny Davies led on the deal. The wider team included corporate partner Ian Piggin, senior associate Róisín Bergin and associate Laura Barron. They worked closely with AstraZeneca's senior legal counsel Ulrika Lilja Stevall.
Patrick Duxbury said: "We were excited to work with the AstraZeneca team once again, drawing on our knowledge of the business and varied sector experience to advance negotiations for our client."
Cooley LLP advised Quell Therapeutics.
With over 150 professionals in its Global Life Sciences Group, Gowling WLG 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.