McDermott Advises Servier in its Strategic Partnership with Intarcia Therapeutics Valued at up to US$1B
PARIS (21 November 2014) — International law firm McDermott Will & Emery advised French pharmaceutical laboratory Servier on its strategic partnership with Intarcia Therapeutics, Inc. to develop and commercialize ITCA 650, Intarcia’s phase 3 investigational therapy for the treatment of type 2 diabetes, outside the United States and Japan.
The upfront and potential milestone payments total more than $1 billion, consisting of development, regulatory and sales milestones. Intarcia will receive tiered net sales-related payments with commercial success.
If successful in its remaining phase 3 trials, ITCA 650 would become the world’s first and only injection-free GLP-1 agonist given just once or twice yearly in a small, matchstick sized mini-pump placed sub-dermally.
Paris-based life science transactions partner Emmanuelle Trombe led the team working closely with Boston-based Richard B. Smith; Emmanuelle and Rich are two of the firm’s leading authorities on life science licensing and collaboration. They were supported by a number of lawyers across McDermott’s global life science platform.
With insights drawn from the leading health practice and a global reach, McDermott provides its clients with integrated business solutions, bringing the required experience from its leading transactional, tax, health, intellectual property, antitrust and regulatory practices to solve the challenges and leverage the opportunities facing its clients.
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.
Founded in 1954, Servier is an independent French pharmaceutical research company. Its development is based on the continuous pursuit of innovation in the therapeutic areas of cardiovascular, metabolic, neurologic, psychiatric, bone and joint diseases as well as cancer. In 2013, the company recorded a turnover of 4.2 billion euros. Ninety-one percent (91%) of Servier drugs are consumed outside France. Twenty-seven percent (27%) of turnover from Servier drugs were reinvested in Research and Development in 2013. With a strong international presence in 140 countries, Servier employs more than 21,000 people worldwide. More information is available at: www.servier.com.