Goodwin Represents Parabilis Medicines in Strategic Collaboration With Regeneron Pharmaceuticals for Up to $2.3 Billion
The Life Sciences team represented Parabilis Medicines in a strategic global collaboration with Regeneron Pharmaceuticals to discover and develop therapeutic candidates based on Parabilis’ Helicon™ peptide platform, with a particular focus on Antibody-Helicon™ Conjugates (AHCs), a novel class of therapeutics designed to target challenging and historically “undruggable” targets.
Under the terms of the agreement, the parties will collaborate to discover new Helicons and AHCs for five initial targets, which Regeneron will then be responsible for advancing through development, manufacturing, and worldwide commercialization. The agreement provides for Parabilis to receive $125 million, comprising a $50 million cash upfront payment and a $75 million equity investment. Parabilis is also eligible to receive development, regulatory, and commercial milestones with a potential for up to approximately $2.2 billion in total milestone payments, as well as tiered royalties up to the low double digits on future net sales of any approved medicines resulting from the collaboration. Additional targets may be pursued upon additional option payments from Regeneron.
Parabilis Medicines is a clinical-stage biopharmaceutical company built to develop transformative medicines addressing some of the most consequential, yet historically undruggable, protein targets driving human disease. Parabilis leverages its proprietary platform to pioneer a novel therapeutic modality, Helicons™, which are stabilized helical peptides engineered to bind and precisely modulate proteins that have long been beyond the reach of conventional medicines.
The Goodwin deal team was led by Chris Denn, Sarah Solomon, and Frank Qin (Licensing), Gregg Katz (Corporate), Arman Oruc and Simone Waterbury (Antitrust), and Dan Karelitz (Tax), with invaluable assistance from Kingsley Taft and Julia Shaver.
For more information on the deal, please read Parabilis’ press release, Regeneron’s press release, and coverage from BioSpace.