SAN FRANCISCO, August 9, 2017 – King & Spalding has advised biopharmaceutical company Dermira, Inc. on an agreement to license exclusive, worldwide rights to lebrikizumab – a monoclonal antibody targeting for atopic dermatitis – in a deal valued up to $1.4 billion.
Dermira entered into the agreement with F. Hoffmann-La Roche Ltd and Genentech, Inc., a member of the Roche Group (together Roche). Pursuant to the agreement, Dermira will obtain exclusive, worldwide rights to develop and commercialize lebrikizumab, a monoclonal antibody targeting interleukin 13 (IL-13), for atopic dermatitis and all other indications, except Roche will retain certain rights, including exclusive rights to develop and promote lebrikizumab for interstitial lung diseases, such as idiopathic pulmonary fibrosis.
Under the terms of the agreement, Dermira will make an initial payment of $80 million to Roche and payments totaling $55 million in 2018. Dermira will also be obligated to make additional payments upon the achievement of certain milestones, comprising $40 million upon the initiation of Dermira’s first Phase 3 clinical study, up to $210 million upon the achievement of regulatory and first commercial sale milestones in certain territories and up to $1.025 billion based on the achievement of certain thresholds for net sales of lebrikizumab for indications other than interstitial lung disease.
More information on the deal can be found here.
The King & Spalding team representing Dermira was led by Corporate partner Tom Duley and senior associate Stephen Abreu, both based in San Francisco. Other lawyers involved included Washington D.C. partner Gary Messplay, who advised on FDA/Regulatory-related matters, and New York partner Peg Brivanlou, who handled IP issues.
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