Goodwin Guides Astex on Research Collaboration and License Agreement With Genentech for $25 Million Upfront and Up to $490 Million in Milestones

The Life Sciences team advised Astex Pharmaceuticals (“Astex”) on entering an exclusive, worldwide research collaboration and license agreement with Genentech, a member of the Roche Group, to identify small-molecule drug candidates with selective inhibitory activity as potential treatments for breast cancer. Under the terms of the agreement, Astex will grant Genentech an exclusive license to compounds from Astex’s existing drug discovery program for breast cancer and will collaborate with Genentech to accelerate the further optimization and development of lead compounds towards the identification of pre-clinical candidates. Genentech will be solely responsible for pre-clinical and clinical development of lead candidates as well as commercialization of all medicines arising from the collaboration globally.

Astex will receive an upfront payment of $25 million and is eligible to receive further payments on the achievement of pre-clinical, clinical, regulatory, and sales milestones, potentially totaling more than $490 million, as well as tiered royalties on net sales of medicines arising from the collaboration.

Astex is a leader in innovative drug discovery and development, committed to the fight against cancer and diseases of the central nervous system. Astex is developing a proprietary pipeline of novel therapies and has a number of partnered products that are approved or are being developed under collaborations with leading pharmaceutical companies. Astex is a wholly owned subsidiary of Otsuka Pharmaceutical Co. Ltd., based in Tokyo, Japan.

The Goodwin team was led by Morag Peberdy and Lucy Sharples.

For more information on the deal, please read the press release.