Ropes & Gray represented biopharmaceutical company Sarepta Therapeutics in signing a strategic investment and entered into a license and option agreement with Lacerta Therapeutics, a gene therapy company, for up to three new CNS-targeted gene therapy programs, including exclusive rights to Lacerta’s gene therapy candidate for Pompe Disease and options to two additional candidates. The deal was announced on August 8, 2018.
Under terms of the agreement, Sarepta will make an equity investment of $30 million in Lacerta. Lacerta will manage the majority of pre-clinical development while Sarepta will lead clinical development and commercialization. Sarepta will owe development and sales-based milestones to Lacerta and pay single-digit royalties on net sales.
The Ropes & Gray team included IP transactions partner David McIntosh, IP transactions associate Hannah Freeman and life sciences associate Bradford Flint (all of Boston).
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