Sidley represented Myovant Sciences (NYSE: MYOV), a biopharmaceutical company focused on developing innovative treatments for women’s health and prostate cancer, in an exclusive license agreement with Accord Healthcare, Ltd., to commercialize relugolix for the treatment of advanced, hormone-sensitive prostate cancer in the European Economic Area, United Kingdom, Switzerland, and Turkey.
Under the terms of the agreement, Myovant will receive an upfront payment of US$50 million, and is eligible to receive commercial launch, sales-based, and other milestones totaling up to US$90.5 million. In addition, Myovant is eligible to receive tiered royalties ranging from the high-teens to mid-twenties on net sales. Myovant will continue to lead the global development of relugolix and provide initial product supply to Accord. Accord will be responsible for certain local clinical development, all commercialization for its territories, and has the option to manufacture relugolix in the future.
The Sidley team was led by Technology and Life Sciences Transactions partners Tom Duley and Lauren Grau, with support from associates Longbo Wang, Jean Qiu and Ashleigh Lussenden, Ph.D.; and also included Patrick J. Harrison, Laurenz Bové, and Fiona Shajko (Antitrust/Competition); Jen Fernandez and Justine Fassion (Global Arbitration, Trade and Advocacy); Andreas Balsiger Betts and Maurits Lugard (Food, Drug and Medical Device Regulatory); and Alastair Hopwood and David Smith (Commercial Litigation and Disputes).
Complete details are available in the press release.
