Goodwin's Life Sciences team advised Generate Biomedicines on its research collaboration agreement with Amgen (NASDAQ: AMGN) to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities. As part of the research collaboration, Amgen will pay $50 million in upfront funding for the initial five programs with a potential transaction value of $1.9 billion plus future royalties, and will have the option to nominate up to five additional programs, at additional cost. For each program, Amgen will pay up to $370 million in future milestones and royalties up to low double digits. Amgen will also participate in a future financing round for Generate. Additional terms were not disclosed.
Generate Biomedicines is the first drug generation company, pioneering a machine learning-powered multimodality Generative Biology platform with the ability to generate new drugs on demand across a wide range of biologic modalities. Generate Biomedicines was founded by Flagship Pioneering after two years of foundational research in its Labs unit and launched in 2020.
The Goodwin team was led by Chris Denn, Sarah Stoiber, Rebecca Gaverman, and Kingsley Taft (Licensing), and Rob Dzialo, Ryan Donahue, Joseph Theis, and Stuart Cable (Corporate), and included Paul Jin (Antitrust), Anne Brendel and Roger Cohen (Healthcare), and Heiko Penndorf, and Dan Karelitz (Tax).
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