Shanghai – March 17, 2026 – Cooley advised Alebund Pharmaceuticals, a leading renal-focused biopharmaceutical company, on its licensing and equity agreements with R1 Therapeutics, a newly launched clinical-stage biotechnology company that recently completed an oversubscribed Series A financing of $77.5 million. Under the agreements, Alebund granted R1 an exclusive license to develop, manufacture and commercialize AP306 outside Greater China.

As part of the transaction, the aggregate financial terms include development, regulatory and commercial milestone payments of up to low triple-digit millions of US dollars, and Alebund will share in the economics of AP306's success in the R1 licensed territory through tiered royalty payments in the low double-digit percentage range on net sales. In addition, Alebund holds a substantial nondilutive equity interest in R1, with the opportunity to participate in future commercial upside through dividends.

Partners Geoffrey Spolyar and Yiming Liu led the Cooley team advising Alebund.

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