Ropes & Gray Advises LA BioMed and UCLA on Sale of Royalty Rights to Kybella Drug
Ropes & Gray advised LA BioMed and the University of California Los Angeles (UCLA) on the sale of their royalty rights to Kybella, the first and only FDA-approved injectable drug to treat submental fullness or “double chin.” The drug was originally developed by LA BioMed and UCLA researchers.
Global pharmaceutical company Allergan is marketing Kybella for the treatment of submental fullness.
LA BioMed is one of America’s leading nonprofit independent biomedical research institutes. It has approximately 100 principal researchers conducting studies into improved treatments and therapies for cancer, inherited diseases, infectious diseases, illnesses caused by environmental factors and more.
Financial terms of the agreement were not disclosed. Proceeds from the transaction will be used to fund LA BioMed’s research enterprise and new facilities.
The Ropes & Gray team was led by intellectual property transactions partner Megan Baca (Silicon Valley). Other members of the team included securities and public companies partner Patrick O’Brien and intellectual property transactions partner Melissa Rones (both of Boston).