Cooley advised Chimagen Biosciences on Agreement to Sell Asset to GSK for Up to $750 Million
Cooley advised Chimagen Biosciences, a privately held biotechnology company, on the agreement to sell a potential best-in-class trispecific T cell-engager (TCE) to GSK. Under the terms of the agreement, GSK will pay an upfront fee to acquire full global rights to the TCE programme. Chimagen will also be eligible to receive success-based development and commercial milestone payments. The agreement has a total potential value of up to $750 million.
The transaction was announced publicly in this press release.
Rama Padmanabhan, Marya Postner, Yiming Liu, Jenny Ge and Zack Gong led the Cooley team advising Chimagen.
Monica Xu, Alexander Lee, David Wilson, Hardy Zhou, Ivy Wang, Zijing Yang, Jack Jones, Eerik Kukebal, David Burns, Sharon Connaughton, Stella Sarma, Zhijing Yu, Natasha Leskovsek, Tom Epps and Ben Sharrock-Mason provided invaluable support.
Cooley previously advised Chimagen Biosciences on the sale of CMG1A46, a dual CD19- and CD20-targeted T cell engager, to GSK for up to $850 million in upfront cash and milestone payments.
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