Fenwick & West LLP represented Resolve Therapeutics, LLC in its partnership with Takeda Pharmaceutical Company Limited to develop compounds for the treatment of lupus and other autoimmune diseases. Resolve will conduct all development work under the collaboration until completion of the Phase 1b/2a trial of the lead compound, RSLV-132, which will begin clinical development later this year. Upon the completion of the Phase 1b/2a trial, Takeda has the exclusive option to license the lead compound and all other compounds from the Resolve platform, which would allow Takeda lead responsibility for worldwide development and commercialization of the Resolve products.
Takeda will help fund continued development of RSLV-132 through an initial payment of $8 million to Resolve. Upon exercise of its option, Takeda would pay Resolve an option exercise fee, plus the potential for additional development milestones, totaling $247 million. Resolve is also eligible to receive royalties on product sales.
The Fenwick transaction team included partners Effie Toshav, Jake Handy, Matthew Rossiter, Michael Solomon and Stefano Quintini.