Ropes & Gray advised long-time client Akebia Therapeutics to acquire Q32 Bio’s Phase 2 complement inhibitor drug ADX-097. The transaction, which was announced on December 1, was a key strategic objective for Akebia as it looked to establish a rare kidney disease pipeline.
ADX-097 is designed to inhibit complement activation, an integral part of the innate immune system, and has potential across kidney, autoimmune, vascular and skin diseases.
Under the agreement, Q32 Bio will receive $12 million in upfront payments and a near-term milestone. Q32 Bio will be eligible to receive a total of up to $592 million, based on the achievement of certain development, regulatory and commercial milestones, in addition to tiered royalties of annual net sales.
The Ropes & Gray team was led by life sciences licensing partner David McIntosh, IP transactions associates Nicole Rohr, Matthew Stylianou, and Parv Gondalia and included tax partner Alyssa Kollmeyer.
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