Boston – April 4, 2023 – Cooley advised Scorpion Therapeutics on its exclusive license agreement with Pierre Fabre to co-develop and commercialize STX-721 and STX-241. Lawyers Christophe Beauduin, Carly Robinson, Michael Klein, Evan Lazerowitz and Aaron Pomeroy led the Cooley team.
The exclusive collaboration and license agreement granted Pierre Fabre a royalty-bearing license to develop and commercialize STX-721 and STX-241, two next-generation mutant epidermal growth factor receptor (EGFR) inhibitors for patients with EGFR-mutant non-small cell lung cancer. Scorpion will lead clinical development of STX-721, and Pierre Fabre will lead clinical development of STX-241. Scorpion will retain commercialization rights to STX-721 and STX-241 in the US, Canada and Japan, while Pierre Fabre will be responsible for commercialization activities in all other territories – with a focus on Europe and China.
Under the terms of the agreement, Scorpion will receive a combined $65 million from an upfront payment and achievement of near-term milestones – and will be eligible to receive up to a total of $553 million in potential milestone payments. In addition, Pierre Fabre will pay Scorpion tiered percentage royalties on a licensed product-by-licensed product basis, ranging from mid-single to mid-teens based on annual net sales of each licensed product in territories excluding the US, Canada and Japan. Scorpion will pay Pierre Fabre tiered percentage royalties based on a licensed product-by-licensed product basis, ranging from low-single to low-double digits on annual net sales of each licensed product in the US. The companies will share global development expenses based on a pre-specified cost-sharing arrangement.
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