Under the licence agreement F-star will grant Janssen a worldwide, exclusive royalty-bearing licence to research, develop, and commercialise up to five novel bispecific antibodies directed to Janssen therapeutic targets using F-star’s proprietary Fcab™ and mAb2™ platforms. Janssen will be responsible for all research, development, and commercialisation activities under the agreement. F-star is entitled to receive upfront fees of $17.5 million, near-term fees and potential further milestones of up to $1.35 billion. F-star is also eligible to receive potential tiered mid single digit royalties on annual net sales.
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Neil Brewis, chief scientific officer at F-star said, “We are pleased to collaborate with Janssen and leverage the science of F-star’s proprietary tetravalent bispecific technology. Beyond our proprietary pipeline, we believe there is broad potential for our mAb2 platform to produce multiple next-generation bispecific antibody therapeutics.”
Lara Boyd, director of business development at F-star said, “We are delighted that James Fry and his team at Mills & Reeve were able to provide legal support to this deal. The team brings extensive transactional experience in the biopharmaceutical sector combined with a flexible and pragmatic approach that makes for an efficient and enjoyable deal process.”
James Fry, head of life sciences at Mills & Reeve, who led the advice to F-star on the transaction said: “We enjoy our work for F-star and have been delighted to support the group on another material out-licensing transaction, and one that could be transformational for patients.”