Ropes & Gray Represents Selecta Biosciences in Exclusive Licensing and Development Agreement with Astellas for Xork IgG Protease

Ropes & Gray represented Selecta Biosciences in an exclusive licensing and development agreement with Astellas Pharma for IdeXork (Xork), a potential next generation immunoglobulin G (IgG) protease that will be developed by Astellas for use with AT845, an investigational, adeno-associated virus (AAV)-based treatment for Late-Onset Pompe disease (LOPD) in adults. The agreement was announced on January 9.

Under the agreement, Selecta will receive a $10 million upfront payment and is eligible to receive up to $340 million for certain additional development and commercial milestones plus royalties on any potential commercial sales where Xork is used as a pre-treatment for AT845. Selecta is responsible for the development and manufacturing of Xork and will maintain the rights for the development of additional indications beyond Pompe disease. Astellas would have the sole and exclusive right to commercialize Xork for use in Pompe disease with an Astellas gene therapy investigational or authorized product, with a current focus on AT845.

The Ropes & Gray team was led by IP transactions partner Abigail Gregor and IP transactions associate Evan Tallmadge, and included business restructuring partner Cristine Schwarzman and IP transactions associate Will Little.