Life sciences team advise Tessellate Bio on their collaboration with Boehringer Ingelheim in developing cancer treatments
We're thrilled to have advised Tessellate Bio, a precision oncology company specialising in novel synthetic lethality approaches, on its research collaboration and global licence agreement with Boehringer Ingelheim.
This collaboration aims to develop first-in-class, oral precision treatments for people living with hard-to-treat cancer. The focus is on targeting tumours dependent on alternative lengthening of telomeres (ALT) for their growth, which is present in 10-15% of all cancers and associated with lack of targeted therapies.
Under the terms of the agreement, Tessellate Bio will receive near-term payments including an upfront licence fee, research funding, and technical milestone payments, as well as downstream success-based milestones, with an overall deal value in excess of €500 million.
Lara Boyd, chief business officer at Tessellate Bio, commented: “As Tessellate Bio’s first pharma deal, this was a big milestone for us, and it was important to have the support of external counsel who not only give solid legal guidance but also deeply understand the commercial sensitivities on both sides of the negotiation table.
“Having worked with James Fry and the team at Mills & Reeve on a range of transactions over the years, I knew they were the right team to engage. Their client service really stands out - they’re responsive, thoughtful, and easy to work with. They take a practical, solution-focused approach to contracting, always keeping an eye on the bigger picture. Their ability to balance legal rigour with commercial pragmatism helped us move the deal forward smoothly and with confidence.”
James Fry, head of life sciences at Mills & Reeve, added: “This collaboration marks significant advancement in cancer research, addressing one of the most pressing challenges in medicine today. I’m proud to have supported Tessellate Bio in forging this groundbreaking partnership with Boehringer Ingelheim. Our team's dedication to providing insightful legal guidance and understanding the commercial nuances has been instrumental in bringing this deal to fruition. We look forward to seeing the impactful developments that will arise from this collaboration.”
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