Ropes & Gray advised Ionis Pharmaceuticals in a license agreement with Otsuka Pharmaceutical Co. Ltd under which Otsuka obtains exclusive rights across the Asia-Pacific region for donidalorsen, an investigational RNA-targeted prophylactic medicine for hereditary angioedema. This license agreement is an extension of the parties existing collaboration for donidalorsen in Europe.
Ionis will maintain primary responsibility for the development of donidalorsen, while Otsuka will be responsible for territory-specific development, regulatory filings and commercialization in the Asia-Pacific region and Europe. Ionis plans to file a New Drug Application with the U.S. Food and Drug Administration in 2024 and will independently launch donidalorsen in the U.S. if approved. The transaction was announced on June 18.
Under the Asia-Pacific agreement, Ionis will receive a $20 million upfront payment and milestone payments based on achievement of regulatory and sales targets. Ionis is also eligible to earn tiered royalties, with similar economic terms to a previous licensing agreement between the Parties for donidalorsen in Europe.
The Ropes & Gray team included life sciences partners Abigail Gregor and Marc Rubenstein and life sciences licensing associates Ana Gomez-Palazzo and Nicole Rohr.
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