Wiggin and Dana Advises Affibody AB in Collaboration with Alexion Pharmaceuticals, Inc.
Wiggin and Dana LLP advised client Affibody AB, a private clinical-stage Swedish biotech company, in a collaboration with Alexion Pharmaceuticals, Inc. to co-develop ABY-039 for rare Immunoglobulin G (IgG)-mediated autoimmune diseases. Currently in Phase 1 development, ABY-039 is a bivalent antibody-mimetic that targets the neonatal Fc receptor (FcRn). ABY-039 has been specifically designed to combine Affibody’s protein therapeutics platform (Affibody® molecules) and Albumod™ technology to achieve a long half-life, which, along with its small size provides the potential for less frequent, convenient, at-home subcutaneous administration.
Under the terms of the Agreement, Affibody is eligible to receive up to $650 million in upfront payments, and development and sales milestones, and tiered low double-digit royalties. Affibody retained the rights to lead clinical development of ABY-039 in an undisclosed indication and has the option to co-promote ABY-039 in the United States. The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Wiggin and Dana Partner, Patti Melick, and Senior Associate, Monica Kolinsky, served as lead counsel on the transaction.