The Life Sciences team represented Harbour BioMed on a license agreement and equity partnership with Solstice Oncology, a clinical-stage biotechnology company established by a syndicate of major venture capital investors, for the exclusive development and commercialization of a clinical-stage portfolio asset HBM4003 outside Greater China. Under the terms of the license agreement, Harbour BioMed will receive upfront consideration valued at over $105 million, comprised of $50 million in upfront payments, $5 million in near-term cash payments, and over $50 million of equity in Solstice. Harbour BioMed is also eligible for additional development, regulatory, and commercial milestones up to approximately $1.1 billion, contingent on the achievement of certain future events, and tiered royalties on net sales outside Greater China.
Harbour BioMed is a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology and oncology. The company is building a robust and differentiated pipeline through internal R&D capabilities, strategic global collaborations in co-discovery and co-development, and selective acquisitions. Harbour BioMed's proprietary antibody technology platform, Harbour Mice®, generates fully human monoclonal antibodies in both the conventional two heavy and two light chain (H2L2) format and the heavy chain-only (HCAb) format. Building upon HCAb antibodies, the HCAb-based immune cell engagers (HBICE®) bispecific antibody technology enables tumor-killing effects that traditional combination therapies cannot achieve.
The Goodwin team was led by Alan Wang and Sam Beavers and consisted of Christopher Zhong, Nancy Urizar, Dan Karelitz, Erika Pey, Alexandra Valenti, Susan S Lee, Matthew Wetzel, Justin Pierce, Nick Ognibene, and Gabe Maldoff.
For more information on the deal, please read the press release.