Sidley Austin has advised Australia-based biopharmaceutical company Telix Pharmaceuticals on its strategic collaboration with American biotechnology firm Regeneron Pharmaceuticals, under an agreement valued at up to USD2.1 billion.
US-based partner Joshua Hofheimer and managing associate Sabrina Glavota led the Sidley team.
Under the collaboration, Telix and Regeneron will co-develop and co-commercialise next-generation radiopharmaceutical therapies through a 50:50 cost and profit-sharing model.
Telix will receive an upfront payment of USD40 million for four initial therapeutic programmes, with the potential to earn up to USD2.1 billion over the duration of the partnership.
“Collaborations of this nature are particularly complex, as the final therapeutic product incorporates key technologies contributed by both parties. This requires engagement, which, as a result, creates continued dependencies on each party throughout the lifecycle, from development through full commercialisation. These considerations affect governance, regulatory matters and intellectual property, in particular,” Hofheimer told Asia Business Law Journal.
