McDermott Advises Korea’s PharmAbcine, Inc. on Global Licensing Deal
SILICON VALLEY (October 29, 2014) — International law firm McDermott Will & Emery represented PharmAbcine, Inc. in negotiating and closing an exclusive global license agreement with Triphase Accelerator Corporation that could bring potentially life-saving innovations to the United States and other markets.
The agreement provides Triphase with certain global development and commercial rights related to a compound, which has potential value in the treatment of certain cancers, developed by PharmAbcine. Under the agreement, PharmAbcine will keep development and commercial rights in China and Korea and will receive undisclosed upfront, milestone and royalty payments.
PharmAbcine is a private biotechnology company based in Daejeon, Korea that focuses on the discovery and development of novel bi-specific antibodies for the treatment of certain cancers, such as pancreatic, brain and breast cancer, and inflammatory diseases.
“Helping to bring this potentially life-saving compound to the world market has been a great opportunity and we are very pleased to have been a part of it,” said McDermott partner and lead attorney A. Marisa Chun, who collaborated with life sciences industry veteran Paul DeStefano on this transaction. “With this important deal, McDermott’s life sciences capabilities are clearly evident as we assist clients on the cutting-edge of science, medicine and the law.”
In congratulating the team, Byron Kalogerou, Chair of the Firm’s Life Science Industry Group, said the deal serves to reinforce McDermott’s experience, reputation and growth in Korea and across Asia.
“We are proud to have represented PharmAbcine in this significant transaction,” said Kalogerou. “PharmAbcine’s choice of McDermott is an incredible endorsement and validation of our life science transactional expertise and our strong reputation in the Korean market and beyond.”
Life sciences companies around the world, from early stage ventures to global powerhouses, trust McDermott Will & Emery with their most sensitive matters. The team consists of 135 professionals, 60 with advanced science degrees and many others with government and industry experience, working across 19 offices around the world. With insights drawn from the only health practice ranked Tier 1 nationally by all major rankings services, and the Firm’s global reach, McDermott delivers integrated legal and business solutions, bringing the required experience from leading tax, health, intellectual property, antitrust and regulatory practices to solve client challenges.
About McDermott Will & Emery McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,100 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.