Wragge & Co’s Life Sciences team has advised Netherlands and Belgium-based biopharmaceutical company arGEN-X on a cross-border licensing agreement with Shanghai-headquartered RuiYi.
Under the agreement, RuiYi gains the right to develop and commercialise a novel antibody, ARGX-109, for the treatment of a range of inflammatory and oncology diseases. RuiYi will make up front payments in cash and equity to arGEN-X, as well as further payments in royalties and on achievement of agreed clinical, regulatory and commercialisation milestones. The initial development strategy for the drug will be focused on China.
Partner Dr Luke Kempton led the deal, assisted by life sciences partnerPatrick Duxbury and Guangzhou-based director Tom Carver. The international Wragge & Co team worked closely with arGEN-X’s Chief Executive Officer Tim Van Hauwermeiren and Senior Director, Business Development, Debbie Allen.
Dr Luke Kempton said: “This is our second transaction for arGEN-X this year and so builds on a growing relationship with the company. With a strong understanding of the client’s business, extensive experience in handling cross-border deals, and insight into the China market, our experts were able to quickly reach the right commercial outcomes.”
RuiYi is focused on the discovery and development of novel biologic therapies in China. Its executive management team has offices in La Jolla, California, while all of the company’s drug discovery programmes are located in Shanghai, China.
arGEN-X is a preclinical stage biopharmaceutical company focused on the discovery and development of human antibodies using its cutting-edge SIMPLE Antibody™ technology. In March this year, Wragge & Co advised arGEN-X on its cross-border alliance with specialist biopharmaceutical company Shire Pharmaceuticals.
Wragge & Co’s Life Sciences team comprises full-service expertise in IP,corporate, antitrust, regulatory and dispute resolution matters. With experience of global patent infringement actions, European regulatory compliance, M&A transactions and cross-border licence and collaboration agreements, its clients include AstraZeneca, Astex Pharmaceuticals, Astellas, Chroma Therapeutics, Lundbeck, Heptares Therapeutics and MedImmune.
Highlights from the past 12 months include advising Tokyo-based Astellas Pharma Inc. on a $US90 million-plus collaboration and licensing agreement with Optimer Pharmaceuticals Inc. The team also supported ProStrakan Group plc on a cross-border licensing agreement with international pharmaceutical company Aptalis Pharma Inc.
