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Ropes & Gray Represents iTeos Therapeutics in $2 Billion Cancer Drug Collaboration with GSK

Practices: Intellectual Property, Intellectual Property Transactions, Life Sciences, Health Care, IP Structuring in M&A, Spinouts & Reorganizations, Strategic Licensing Programs, Joint Ventures, Collaborations and Alliances, IP-Backed Finance, Strategic Commercial Agreements, Tax, Antitrust, Securities & Futures Enforcement, Litigation

Ropes & Gray advised Belgian biopharmaceutical company iTeos Therapeutics in a collaboration with global healthcare leader GSK to co-develop and co-commercialize an anti-TIGIT monoclonal antibody called EOS-448, currently in Phase I development as a potential treatment for patients with cancer. The transaction was announced on June 14. 

TIGIT is an immune checkpoint protein that is expressed on multiple immune cells, including T cells. The immune-oncology treatment is designed to deactivate a cancer tumor's ability to evade the immune system. 

Under the terms of the collaboration agreement, iTeos will receive an upfront payment of $625 million. iTeos will be eligible to receive up to an additional $1.45 billion in milestone payments, should the EOS-448 program achieve certain development and commercial milestones.

Within the collaboration, GSK and iTeos will share responsibility and costs for the global development of EOS-448 and will jointly commercialize and equally split profits in the US. Outside of the US, GSK will receive an exclusive license for commercialization and iTeos will receive tiered royalty payments.

The Ropes & Gray team was led by life sciences licensing partner Hannah Freeman and included IP transactions partner David McIntosh, tax partner David Saltzman (all of Boston), antitrust partner Mike McFalls (Washington, D.C.), litigation & enforcement partner Ruchit Patel (London) and IP transactions associates Maria Colella and Ana Gomez-Palazzo (Boston).

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