Fenwick represented SyntheX, a biotechnology company innovating next-generation functional drug discovery engines, in its research collaboration and license agreement with Bristol Myers Squibb to discover, develop and commercialize novel small molecules using SyntheX's ToRNeDO platform for protein degradation.
The collaboration will focus on discovering molecular glue degraders. Under the terms of the agreement, SyntheX will receive a combined upfront of cash and an investment and is eligible for up to $550 million in performance-based milestone payments, as well as royalties on global net sales of products. More information about the collaboration can be obtained from SyntheX’s announcement.
The Fenwick transaction team was led by life sciences partner Stefano Quintini and included corporate partner Ryan Slunaker and associate Jennifer Yoon.