Press Release January 12, 2021

Biond Biologics And Sanofi Enter Into Global Licensing Agreement $125 Million Upfront And Over $1 Billion In Milestone And Royalty Payments

The Life Sciences team advised Biond Biologics Ltd. on its exclusive worldwide license agreement with Sanofi (EURONEXT: SAN) (NASDAQ: SNY), for the development and commercialization of BND-22.

Biond is a privately-held biopharmaceutical company developing novel immunotherapies for cancer and a platform enabling the intracellular delivery of biologics. BND-22 is a humanized IgG4, antagonist antibody targeting the Ig-like transcript 2 (ILT2) receptor in development for the treatment of solid tumors.

Under the terms of the agreement, Biond will receive a $125 million upfront payment in cash and will be entitled to receive more than $1 billion in development, regulatory, and sales milestones, as well as tiered double digit royalty payments.

The Goodwin team was led by Kingsley Taft and Nancy Urizar.

For more details, read the press release and articles in Endpoints, Fierce Biotech, and Reuters.