Allorion Therapeutics Announces Exclusive Option, Global License Agreement With AstraZeneca
Palo Alto – January 2, 2024 – Cooley advised Allorion Therapeutics, a US- and China-based biotechnology company that focuses on the discovery of new small molecule drugs for treating cancer and autoimmune diseases, on its exclusive option and global license agreement with AstraZeneca to develop and commercialize a novel epidermal growth factor receptor (EGFR) L858R mutated allosteric inhibitor as a potential new treatment for advanced EGFR-mutant non-small-cell lung cancer. Lawyers Marya Postner, Brendan Haberle and Yiming Liu led the Cooley team advising Allorion.
Under the terms of the agreement, AstraZeneca will be granted an exclusive option to license a novel EGFR L858R allosteric inhibitor to develop and commercialize globally. Allorion is eligible to receive upfront and near-term payments of up to $40 million, additional development and commercial milestone payments of more than $500 million, and tiered royalties on net sales worldwide.
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