Agios Pharmaceuticals Collaborates with South Korea’s Oscotec on Blood Disorder Drug Worth up to $665 Million

Ropes & Gray advised Agios Pharmaceuticals in an exclusive global license agreement with South Korea-based Oscotec for oral spleen tyrosine kinase (SYK) inhibitor, called cevidoplenib, to treat immune thrombocytopenia (ITP) in a deal worth up to $665 million. The transaction was announced on June 1. ITP is a blood disorder condition characterized by an immune system that destroys platelets, leading to an increased risk of bleeding.

Under the agreement, Agios will obtain exclusive global rights to develop and commercialize cevidoplenib across all indications and responsibility for future development and commercialization costs. Oscotec will receive a $25 million upfront payment and is eligible to receive up to $140 million in development and regulatory milestones for up to three indications in the U.S. and Europe, as well as commercial milestone payments and royalties on future net sales. Oscotec retains the option to secure exclusive development and commercialization rights to cevidoplenib in South Korea following the release of Phase 3 trial results.

The Ropes & Gray team was led by life sciences licensing partner Hannah England and associates Nicole Rohr and Ryan Kramer and included antitrust partner Deidre Johnson and private equity counsel Keun Shin.