In Unprecedented Business Conditions, Onxeo to Receive $6.6 Million by Granting Additional Exclusive Rights to Belinostat to Acrotech Biopharma LLC

The Life Sciences team advised Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO) on its agreements with Acrotech Biopharma LLC extending Acrotech’s rights to belinostat to all territories not covered under Onxeo’s prior agreement with Acrotech and transferring certain patents and know-how related to belinostat in all its forms. Onxeo will receive a one-time payment of $6.6 million from Acrotech in exchange for these rights.

Onxeo is a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage Response (DDR), in particular against rare or resistant cancers. Acrotech a wholly-owned subsidiary of Aurobindo Pharma. Belinostat is currently marketed in the U.S. under the name Beleodaq® (belinostat for injection) in the second-line treatment of patients with peripheral T cell lymphoma.

Onxeo executed its strategy of optimizing resource allocations by moving its maturing program to an existing partner in the midst of unpredictable financial markets and challenging conditions for clinical trials and product development. The transfer required coordinated solutions to overcome contract, intellectual property, supply chain, regulatory and commercial constraints in three continents. Resilient information technology and solid relationships with its contract partners allowed Onxeo to succeed.

Goodwin’s multidisciplinary team of U.S. and European lawyers was led by Peter Rodas (Corporate).

For more details, read the press release.