Life sciences team oversees a pounds 56m licence agreement.
A city law firm's life sciences team has advised Tokyo-based Astellas Pharma on a pounds 56 million-plus collaboration and licence agreement with global biopharmaceutical company Optimer Pharmaceuticals.
Under the agreement, Astellas gains the right to develop and commercialise fidaxomicin tablets in Japan for the treatment of clostridium difficile infection (CDI).
Wragge & Co partner Dr Luke Kempton led the deal, working closely with Michael Yoshida and Yu Otosaka from Astellas' legal department in Tokyo.
Mr Kempton said: "Having advised Astellas on three previous transactions, we have a strong relationship with the client.
"Our thorough understanding of its objectives and our specialist sector-focused life sciences expertise and international experience meant we could provide the commercially-focused advice it needed to secure this agreement."
Optimer will receive an upfront cash payment of pounds 12.6 million and additional cash payments of up to pounds 44 million upon achievement of certain regulatory and commercial milestones.
It will also be eligible for payments from Astellas that provide a return resulting in a double digit percent of Astellas net sales in Japan.
CDI is a serious illness resulting from infection of the inner lining of the colon by C. difficile bacteria. Fidaxomicin is approved by the US Food and Drug Administration for the treatment of CDIassociated diarrhoea.
Astellas is a pharmaceutical company dedicated to improving the health of people around the world through the provision of innovative and reliable products.
San Diego-headquartered Optimer is focused on discovering, developing and commercialising innovative hospital products that have a positive impact on society. Cooley LLP advised Optimer.
Wragge & Co's life sciences team offers expertise in intellectual property, corporate, antitrust, regulatory and dispute resolution matters.
Legal news: birminghampost.net/ legal
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|Publication:||The Birmingham Post (England)|
|Date:||Apr 5, 2012|
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