Press Release December 18, 2020

Surface Oncology Signs Exclusive License Agreement With GSK, $85 Million Upfront Payment With Additional $730 Million In Milestone Payments Plus Royalties

The Life Sciences team advised Surface Oncology (Nasdaq: SURF) in its agreement with GSK to exclusively license worldwide development and commercial rights to Surface Oncology’s preclinical program SRF813, a fully human IgG1 antibody targeting PVRIG (also known as CD112R), an inhibitory protein expressed on natural killer cells (NK cells) and T cells. Under the terms of the agreement, GSK will make an $85 million upfront payment. Surface Oncology may receive up to an additional $730 million in future milestone payments, as well as be eligible to receive tiered royalties on global net sales.

Surface Oncology is an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment. The company’s novel cancer immunotherapies are designed to achieve a clinically meaningful and sustained anti-tumor response and may be used alone or in combination with other therapies.

The Goodwin team was led by Kingsley Taft and Jennifer Ford and included Daniel Karelitz and Robert Young.

For additional details on the agreement, please read the press release, and coverage in Endpoints News and FierceBiotech.