Goodwin Advised Sichuan Kelun-Biotech Biopharmaceutical Co. on its Strategic Partnerships with Crescent Biopharma, Inc. for the Development and Commercialization of Oncology Therapeutics SKB105 and CR-001.
Goodwin Advised Sichuan Kelun-Biotech Biopharmaceutical Co. on its Strategic Partnerships with Crescent Biopharma, Inc. for the Development and Commercialization of Oncology Therapeutics SKB105 and CR-001.
Goodwin advised Sichuan Kelun-Biotech Biopharmaceutical Co. on its strategic partnerships with Crescent Biopharma, Inc. for the development and commercialization of oncology therapeutics SKB105 and CR-001 with Crescent. Under the terms of the collaborations, Kelun-Biotech has granted Crescent exclusive rights to research, develop, manufacture and commercialize SKB105 in the United States, Europe and all other markets outside of Greater China. Both Crescent and Kelun-Biotech have the right to independently develop CR-001 in additional combinations, including combinations of CR-001 with proprietary ADC pipeline assets. In addition, Crescent has granted Kelun-Biotech exclusive rights to research, develop, manufacture and commercialize CR-001 in Greater China (including mainland China, Hong Kong, Macau and Taiwan). The partnership includes the development of these candidates as monotherapies, and also the evaluation of CR-001 in combination with SKB105.
Under the collaboration, Kelun-Biotech will receive an upfront payment of US$80 million from Crescent and is also eligible to receive additional milestones of up to US$1.25 billion, plus tiered middle single-digit to low double-digit royalties on net sales of SKB105. Kelun-Biotech is also eligible to receive additional payment from Crescent if Crescent undergoes a near-term change of control or enters into a sublicense agreement with a third party. Crescent will receive an upfront payment of US$20 million from Kelun-Biotech and is also eligible to receive additional milestones of up to US$30 million, plus tiered low to middle single digit royalties on net sales of CR-001.
Kelun-Biotech is a holding subsidiary of Kelun Pharmaceutical, which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. Kelun-Biotech focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. Kelun-Biotech is committed to becoming a leading global enterprise in the field of innovative drugs. At present, Kelun-Biotech has more than 30 ongoing key innovative drug projects, of which four projects have been approved for marketing, one project is in the NDA stage and more than 10 projects are in the clinical stage. Kelun-Biotech has established one of the world's leading proprietary ADC and novel DC platforms, OptiDC™, and has two ADC projects approved for marketing, and multiple ADC and novel DC assets in clinical or preclinical research stage.
The Goodwin deal team was led by Wenseng “Wendy” Pan (Partner/ Chair of Goodwin Asia Life Sciences) and consisted of Kevin Guan (Associate), Longfei Fang (Associate), Arman Oruc (Partner/ Co-Chair/ Antitrust/ Competition), Susan S. Lee (Partner), Gozde Guckaya (Associate), and Daniel S. Karelitz (Partner).
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at info@legalera.in or call us on +91 8879634922.
