Ropes & Gray Cross-Practice Team Advises JHL Biotech in Alliance with Sanofi to Develop Biosimilar Therapies in China
A Ropes & Gray cross-practice and cross-office team advised JHL Biotech Inc. on a landmark strategic alliance with global healthcare leader Sanofi, which involves the development and commercialization of biosimilar therapies in China using JHL’s development and manufacturing facilities in Taiwan and China, and Sanofi’s commercial sales platform in China.
The transaction, valued at $337 million, was announced on December 5. Under the terms of the transaction, Sanofi will invest $80 million in common share interests in JHL Biotech and will also pay $21 million in up-front payments to JHL Biotech under the terms of licensing arrangements between the parties. JHL may receive an additional $236 million in milestone payments and is entitled to sales royalties upon commercialization of any of the biosimilar assets developed under the partnership.
The Ropes & Gray team was led by life sciences partner Arthur Mok (Shanghai) and included IP transactions partner Geoffrey Lin (Shanghai), government enforcement counsel David Zhang (Shanghai), tax & benefits partner Elaine Murphy (Boston), business & securities litigation partner Andrew Dale (Hong Kong), and life sciences partner Katherine Wang (Shanghai).
Sanofi’s press release announcing the alliance can be viewed here.