Gowling WLG's award-winning Life Sciences team has advised long-standing client AstraZeneca on a cancer drug collaboration agreement with Daiichi Sankyo Company Limited that could be worth up to $6 billion in total consideration.
The collaboration will see the two companies jointly developing and commercialising DS-1062, Daiichi Sankyo's proprietary trophoblast cell-surface antigen 2 (TROP2)-directed antibody drug conjugate, a potential new treatment for lung, breast and multiple other types of cancer.
Under the agreement, AstraZeneca will pay Daiichi Sankyo an upfront payment of $1 billion in three staged payments. There will also be contingent payments of up to $1bn for the successful achievement of regulatory approvals and up to $4bn for sales-related milestones.
Gowling WLG's head of life sciences, Patrick Duxbury and director Jenny Davies led on the deal, which is the firm's second significant deal for AstraZeneca in the past six months. The first relates to AstraZeneca's landmark collaboration agreement for the development and distribution of the University of Oxford's potential COVID-19 vaccine.
Patrick Duxbury said: "This is another significant collaboration for AstraZeneca in support of its long-term strategic focus on oncology. Having worked closely with AstraZeneca and Daiichi Sankyo on an earlier collaboration in the area of cancer treatment, we were able to draw on the strength of our past experience and relationships to swiftly meet the objectives of all parties."
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in the areas of oncology, cardiovascular, renal & metabolism and respiratory & immunology. AstraZeneca operates in more than 100 countries and its medicines are used worldwide.
Daiichi Sankyo is a global pharmaceutical company with a primary focus on providing novel therapies in oncology, as well as other research areas related to rare diseases and immune disorders. The company has more than 100 years of scientific expertise, a presence in more than 20 countries and employs 15,000 people around the world.
Gowling WLG's global Life Sciences team combines extensive sector expertise with full-service capability. Its strong reputation in the market has seen it described as a "sterling commercial life sciences practice for complex licence, research and collaboration agreements" and gain recognition through awards, such as Patrick Duxbury's recent win at the LMG European Life Sciences Awards. Clients range from global pharmaceutical companies and leading research and academic bodies, to small private companies and start-up businesses.