F-star sign landmark licence and collaboration agreement with Janssen to develop and commercialise multiple next generation bispecific antibody therapeutics

The life sciences team at Mills & Reeve has acted for long standing client, F-star Therapeutics, on its licence and collaboration agreement with Janssen Biotech, Inc.

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.

For more detail on the transaction please click here.

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.”

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