Firm News
Wiggin and Dana Represents BioInvent in Licensing Agreement with Exelixis
Wiggin and Dana represented its client BioInvent International AB (“BioInvent”) (Nasdaq Stockholm: BINV) in its exclusive option and license agreement with Exelixis, Inc. (Nasdaq: EXEL) to develop novel antibody-based immuno-oncology therapies.
The collaboration is intended to expand Exelixis’ portfolio of antibody-based therapies and will combine BioInvent’s antibody and cancer immunology expertise with Exelixis’ expertise and resources in antibody engineering and antibody-drug conjugate (ADC) technologies. BioInvent will be responsible for target and antibody discovery and characterization activities using BioInvent’s proprietary n-CoDeR® antibody library and F.I.R.S.T™ screening platform, which rapidly screens samples from patients with cancer to identify antibodies and targets with promising therapeutic potential. Exelixis will pay BioInvent an upfront fee of $25 million in exchange for rights to select three targets. Once Exelixis exercises its option, it will pay BioInvent an option exercise fee and will assume responsibility for all future development and commercialization activities for the associated candidates, including potential ADC and bispecific antibody engineering activities. Additionally, BioInvent will be eligible for success-based development and commercialization milestones, as well as tiered royalties on the annual net sales of any products that are successfully commercialized under the collaboration.
Partner Patti Melick and Associate Madeleine Tavcar are proud and grateful to have had the opportunity to contribute to the success of this transaction.
To read the official press release, please click here.
