Overview
Frankfurt, December 4, 2020 – McDermott Will & Emery advised OncoArendi Therapeutics SA on an exclusive collaboration and license agreement with Galapagos NV for the global development and commercialization of OncoArendi’s lead compound OATD-01. OATD-01 is a Phase 2-ready drug (CHIT1/AMCase) for the treatment of idiopathic pulmonary fibrosis (IPF) and other diseases with a fibrotic component.
The agreement involves an upfront payment of €25 million to OncoArendi Therapeutics in exchange for global research, development and commercialization rights and the eligibility to receive development, regulatory and commercial milestones on licensed products, for a total potential deal value of €320 million as well as tiered royalties ranging up to low double-digits, based on future net sales.
The agreement further involves a payment of €2 million from Galapagos to OncoArendi for the right of first negotiation on all other earlier stage programs on its chitinase gene {?] platform. OncoArendi remains responsible for all research activity until preclinical candidate selection, after which Galapagos can exercise the option to initiate negotiations to obtain development or commercialization rights for the selected molecules. Any such transaction will be subject to a separate set of payments.
Galapagos NV, headquartered in Mechelen, Belgium, discovers and develops small molecule medicines with novel modes of action, several of which show promising patient results and are currently in late-stage development in multiple diseases. The company’s pipeline comprises early discovery through to Phase 3 programs in inflammation, fibrosis, and other indications.
OncoArendi Therapeutics SA, based in Warsaw, Poland, is an innovative biotechnology company specializing in research, development and commercialization of innovative small molecule drugs for treatment of respiratory diseases and cancer. OncoArendi Therapeutics’ business model is based on the discovery and development of first-in class or best-in-class small molecules, and then licensing its assets to larger pharmaceutical and biotechnology companies.
The McDermott team advising OncoArendi Therapeutics SA was led by Frankfurt life sciences partner Dr. Rüdiger Herrmann and counsel Dr. Monika Emilia Richter.
About McDermott
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
