The Life Sciences team advised Harbour BioMed on a global strategic collaboration with AstraZeneca to discover and develop next-generation multi-specific antibodies for immunology, oncology, and beyond. The strategic collaboration includes an option to license multiple programs utilizing Harbour BioMed’s proprietary Harbour Mice® fully human antibody technology platform in multiple therapeutic areas. The initial phase of the strategic collaboration will focus on ongoing research programs, with the potential for additional programs. In return, Harbour BioMed will receive an upfront payment, near-term milestone payments, and option exercise fees for additional programs, totaling $175 million, as well as up to $4.4 billion in additional development and commercial milestone payments, along with tiered royalties on future net sales. Additionally, the parties have the option to include additional programs into the collaboration over the next five years, with the option to extend the terms of the agreement for an additional five years upon mutual agreement.
Harbour BioMed is a global biopharmaceutical company committed to the discovery, development, and commercialization of novel antibody therapeutics focusing on immunology and oncology. The company is building its robust portfolio and differentiated pipeline through internal R&D capability, collaborations with co-discovery and co-development partners, and select acquisitions.
The Goodwin team was led by Alan Wang, and consisted of Christopher Zhong and Elliot Horlick (IPTS), Arman Oruc (HSR), Susan Lee (FDA Regulatory), Dan Karelitz and Katie Leah (Tax), Tim Worden and Beth Ashbridge (UK Corporate), Matthew Wetzel (Healthcare Regulatory), Barry Bazian (Bankruptcy), Catherine McCarty (Patent) and Alexandra Valenti (Litigation).
For more information on the deal, please read the press release.