Fenwick represented KaliVir Immunotherapeutics, an early stage biotech company developing cutting-edge, next-generation oncolytic viral immunotherapy programs, in its worldwide licensing agreement with Astellas Pharma Inc. for the research, development and commercialization of VET2-L2, an intravenously administered oncolytic virus for immuno-oncology, as well as a research collaboration to generate a second product, a follow-on virus.
This collaboration, which combines KaliVir's expertise in the development of oncolytic viruses with Astellas' capabilities in advanced drug development and its global business experience, will enable both parties to develop new Immuno-Oncology therapies.
Under the terms of the agreement, Astellas will pay to KaliVir up to $56 million in the form of an upfront payment and other payments to support research and preclinical activities related to VET2-L2 and the Second Product. Additionally, Astellas may pay up to $307 million and up to $271 million for development, regulatory and commercialization of VET2-L2 and Second Product, respectively.
Astellas also may make royalty payments on net sales of each licensed product.
More information can be obtained from KaliVir’s announcement.
The Fenwick transaction team was led by corporate principal Eli Curi and technology transactions partner Jake Handy.