Press Release April 28, 2014

Goodwin Procter Advises Nogra Pharma in $710 Million Licensing Agreement with Celgene, Total Value Up to $2.6 Billion

Goodwin Procter attorneys recently advised client Nogra Pharma Limited on its global license agreement with Celgene Corporation for the development and commercialization of GED-0301, a drug therapy for treating Crohn’s disease. The agreement, which includes a $710 million upfront payment to Nogra and the potential for an additional $1.8 billion in milestone payments, plus royalties, is reported to be the largest upfront payment for an in-licensing deal in the last 10 years. The drug has completed phase II trials and Celgene expects to initiate phase III testing in 2014.

The Goodwin team advising Nogra included Kingsley Taft and Sarah Solomon on licensing, Theresa Kavanaugh and Brian Fairchild on patent matters, and Todd Hahn on antitrust compliance.

More information about the transaction is available in the Celgene press release.