Fenwick represented Seagen, a global biotechnology company that discovers, develops and commercializes transformative cancer medicines, in its strategic collaboration and exclusive license agreement with LAVA Therapeutics, a clinical-stage immuno-oncology company focused on developing its proprietary Gammabody™ platform of bispecific gamma delta T cell engagers. The exclusive agreement will allow Seagen to work to develop, manufacture and commercialize LAVA-1223. LAVA-1223 is an advanced preclinical asset that utilizes LAVA’s proprietary Gammabody™ technology to target epidermal growth factor receptor (EGFR)-expressing solid tumors.
Under the terms of the agreement, Seagen will receive an exclusive global license for LAVA-1223 and pay LAVA $50 million upfront; up to approximately $650 million in potential development, regulatory and commercial milestones; and royalties ranging from the single digits to the mid-teens on future sales. The agreement also provides Seagen with the opportunity to exclusively negotiate rights to apply LAVA's proprietary Gammabody™ platform on up to two additional tumor targets. More information about the collaboration can be obtained from Seagen’s announcement.
The Fenwick transaction team included life sciences counsel Amy Manning and partner Stefano Quintini.