PALO ALTO, June 8, 2015 — King & Spalding advised Five Prime Therapeutics (Nasdaq: FPRX), on an exclusive license agreement with bluebird bio (Nasdaq: BLUE) to research, develop and commercialize chimeric antigen receptor therapies (CAR) T cell therapies to fight blood-related and solid tumor cancers. The therapies will use Five Prime's proprietary human antibodies to an undisclosed target associated with such cancers.
The terms of the agreement, which was announced May 26, include a $1.5 million upfront payment to Five Prime, plus subsequent milestone payments that could total over $130 million per licensed product if certain development, regulatory and commercial milestones are achieved. Five Prime is also eligible to receive royalties on product sales.
The King & Spalding team included Silicon Valley-based partner Tom Duley and associates Stephen Abreu and Longbo Wang, all of whom are corporate lawyers focused on the life sciences industry.
Additional information on the agreement between Five Prime Therapeutics and bluebird bio can be found here.
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