Ropes & Gray Advises Goldfinch Bio in Exclusive Global License Agreement with Karuna Therapeutics
Ropes & Gray represented Goldfinch Bio in an exclusive global license agreement with Karuna Therapeutics under which Karuna will have development, manufacturing and commercialization rights to Goldfinch’s therapeutic candidates as potential treatments for various psychiatric and neurological conditions. The transaction was announced on February 2.
Under the agreement, the assignment estate of Goldfinch will receive $15 million upfront and is eligible to receive up to $520 in milestone payments for each licensed therapeutic TRPC4/5 program candidate, of which $410 are related to regulatory approval and commercial sales milestones, plus royalty on net sales.
The Ropes & Gray team included life sciences licensing partner Marc Rubenstein, life sciences licensing associate Parker Elliot and corporate associate Jacob Green.