Ropes & Gray advised Allorion Therapeutics in a global licensing agreement with Avenzo Therapeutics to develop and commercialize Allorian’s AVZO-021, a cyclin-dependent kinase 2 selective inhibitor, globally, excluding Greater China. The therapy is in a phase 1 trial in patients with a certain type of breast cancer and other solid tumors. The transaction was announced on January 4. As part of the agreement, Avenzo also receives an exclusive option for an additional preclinical program planned for IND submission in early 2025.
Under the license agreement, Allorion will receive an upfront payment of $40 million and be eligible to receive additional payments based on achievement of certain development, regulatory and commercial milestones and tiered royalties on net sales by Avenzo. Potential payments for both programs may total more than $1 billion.
The Ropes & Gray team was led by life sciences licensing partner Hannah England and life sciences licensing associate Nicole Rohr and included life sciences licensing partners Geoffrey Lin and Katherine Wang, tax partner David Saltzman, litigation & enforcement partner Lisa Kaltenbrunner, and IP litigation partner Sam Brenner.
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