Ropes & Gray represented Cullinan Oncology in an exclusive license agreement with Harbour BioMed for the development and commercialization rights to HBM7008 (CLN-418), a B7H4 x 4-1BB bispecific immune activator, currently in a Phase 1 clinical trial in U.S. and Australian sites in patients with advanced solid tumors. The transaction was announced on February 13.
Under the agreement, Cullinan will pay Harbour BioMed an upfront license fee of $25 million, and Harbour BioMed will be eligible to receive up to $148 million in development and regulatory milestones plus up to an additional $415 million in sales-based milestones as well as tiered royalties on potential U.S. commercial sales.
The Ropes & Gray team was led by life sciences licensing partner Abigail Gregor and life sciences licensing associates Parker Elliot and Nicole Rohr and included tax partner Scott Pinarchick, and business restructuring partner Cristine Pirro Schwarzman.
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