Stephen Abreu

• Represented Keymed Biosciences, a China-based, publicly traded (Hong Kong Exchange, Stock Code: 02162) biopharmaceutical company in the out-licensing of CMG901, a potential first-in-class Claudin 18.2 antibody drug conjugate (ADC) to AstraZeneca (NASDAQ: AZN). Under the terms of the agreement, KYM Biosciences, the joint venture established by Keymed and Lepu Biopharma, will receive an upfront payment of US$63 million on transaction closing and additional development and sales-related milestone payments of up to US$1.1 billion, as well as tiered royalties of up to low double-digits.
• Represented Akeso Inc. in a collaboration and licensing agreement with Summit Therapeutics Inc. to out-license its breakthrough bispecific antibody, ivonescimab, for development and commercialization in the U.S., Canada, Europe, and Japan. Under the terms of the agreement, Akeso will receive a US$500 million upfront payment, with a total potential deal value of up to US$5 billion. Akeso will also receive a low double-digit percentage of royalties on net product sales of ivonescimab.
• Represented Ambrx, a clinical stage biopharmaceutical company using an expanded genetic code to create bio therapeutics, in its collaboration with Sino Biopharma to develop two products enabled by Ambrx’s proprietary non-natural amino acid incorporation technology platforms. Under the terms of the agreement, Ambrx received an upfront payment to create two innovative drug candidates, with Sino Biopharma leading Investigational New Drug application activities for both China and the U.S. The parties will jointly develop the programs with Sino Biopharma commercializing the products within the greater China area and Ambrx commercializing the products worldwide.
• Represented Nurix Therapeutics in the following transactions:
  
  • A multi-year, multi-target strategic collaboration agreement with Seagen Inc. (Nasdaq: SGEN) to advance a new class of medicines called Degrader-Antibody Conjugates (DACs) for use in cancer treatment. This strategic collaboration will focus on an innovative approach to combining two powerful technologies to target cancer—antibody-drug conjugation (ADC) and targeted protein degradation (TPD)—with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity. Under the terms of the agreement, Nurix will receive an upfront payment of US$60 million and the potential to receive up to approximately US$3.4 billion in research, development, regulatory, and commercial milestone payments across multiple programs. In addition, Nurix will be eligible for mid-single to low double-digit tiered royalties on future sales, and Nurix retains an option for U.S. profit sharing and co-promotion on two products arising from the collaboration.
  • A potentially US$2.5 billion global strategic collaboration deal with Sanofi to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with challenging diseases in multiple therapeutic areas. Nurix will utilize its proprietary drug discovery platform, DELigase™, which integrates its DNA-encoded libraries (DEL) and its portfolio of E3 ligases to create small molecules designed to induce degradation of three specified drug targets, with an option by Sanofi to expand to a total of five targets. Sanofi will have exclusive rights and be responsible for clinical development and commercialization of drug candidates resulting from the work while Nurix will retain the option to co-develop and co-promote up to two products in the U.S. under certain conditions. Under the terms of the agreement, Nurix will receive an upfront payment of US$55 million and subsequent payments upon expansion of the number of targets to be included in the collaboration. In addition, Nurix will be eligible to receive up to approximately US$2.5 billion in total payments based on the successful completion of certain research, pre-clinical, clinical, regulatory and sales milestones. For those programs that Nurix exercises its option to co-develop and co-promote, the parties will split U.S. profits and losses evenly and Nurix will be eligible to receive royalties on ex-U.S. net sales on all optioned products.
  • A potentially US$2.48 billion global strategic collaboration deal with Gilead Sciences (Nasdaq: GILD) to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with cancer and other challenging diseases. Under the terms of the agreement, Nurix will receive an upfront payment of US$45 million and will be eligible to receive up to approximately US$2.3 billion in total additional payments based on the successful completion of certain research, pre-clinical, clinical, regulatory and commercialization milestones as well as up to low double-digit tiered royalties on net sales or, with respect to certain programs, the option to co-develop and co-detail and share profits and losses in the U.S. In 2019, this transaction was recognized by LMG Life Sciences as the “Financial & Corporate Impact Deal of the Year.”
  • A strategic collaboration with Celgene Corporation for the discovery, development and commercialization of novel small molecule therapeutics in oncology, inflammation and immunology. Nurix received a US$150 million upfront payment under the collaboration. In 2016, LMG Life Sciences recognized this transaction as a “Collaboration Impact Deal of the Year.”
• Represented a global leader in the food space in connection with a collaboration agreement to develop a manufacturing process for a fruit-based food additive.
• Represented a global pharmaceutical company in negotiating a license to key delivery technology for one of its largest pharmaceutical drug franchises.
• Represented Jounce Therapeutics, Inc. (NASDAQ: JNCE), in the following transactions:
  • A license agreement with Celgene under which Celgene obtained worldwide rights to JTX-8064, a highly-selective, potential first-in-class antibody that targets the LILRB2 receptor on macrophages. Under the terms of the license agreement for JTX-8064, Jounce received a US$50.0 million non-refundable license fee and is eligible to receive from Celgene up to US$480 million in development, regulatory and commercial milestone payments, as well as royalties on potential worldwide sales.
  • A strategic collaboration with Celgene Corporation to develop and commercialize immuno-oncology products. Jounce was paid US$225 million upfront and is eligible to receive up to US$2.3 billion in milestones across all programs reaching commercialization, plus profit sharing in the U.S. and tiered royalties on ex-U.S. sales.
• Represented Dermira Inc (NASDAQ: DERM), in the following transactions:
  
  • A license agreement under which Dermira obtained exclusive, global rights from F. Hoffman-La Roche and Genentech, Inc., to develop and commercialize a clinical-stage antibody for atopic dermatitis. Up to US$1.4 billion in upfront and milestone payments may be paid.
  • An option and license agreement whereby Almirall, S.A. (BME: ALM) acquired an option to license rights to develop and exclusively commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe.
• Represented Plexxikon, Inc., a California-based drug discovery company that is a member of Daiichi Sankyo Group, in the following transactions:
  • A license agreement with cancer biotech company Novellus to research, develop, manufacture and (should it gain approval) exclusively sell worldwide the early clinical-stage BRAF-inhibiting compound PLX8394 for the treatment of solid tumors known as PLX8394. Under the terms of the agreement, Plexxikon received an undisclosed upfront payment, additional developmental milestones and royalty payments in exchange for the rights to PLX8394.
  • A license agreement with Kiq LLC for worldwide rights to develop and commercialize PLX9486. Under the terms of the agreement, Plexxikon received an upfront payment, and is eligible for additional developmental milestones and mid- to high- single-digit royalty payments. PLX9486 will be studied as a monotherapy in patients with Advanced Systemic Mastocytosis (ASM) and Indolent Systemic Mastocytosis (ISM).
  • A Trial Collaboration Agreement under which the parties will evaluate the combination of PLX3397, Plexxikon’s investigational CSF-1R inhibitor, and KEYTRUDA® (pembrolizumab), Merck’s anti-PD-1 therapy, in patients with advanced melanoma or solid tumors.
• Represented TherapeuticsMD in the following transactions:
  • An exclusive license agreement with Population Council to commercialize its investigational segesterone acetate/ ethinyl estradiol one-year vaginal system for contraception in the United States. Once approved, the vaginal contraceptive system will be the first and only reversible contraceptive option that provides a full year of protection against unintended pregnancy while fully under a woman’s control.
  • A license agreement with Knight Therapeutics that grants Knight the rights to commercialize TX-004HR and TX-001HR in Canada and Israel. TX-004HR is TherapeuticsMD’s FDA-approved product, marketed as Imvexxy™ (estradiol vaginal inserts) in the U.S., for the treatment of moderate-to-severe dyspareunia. TX-001HR is TherapeuticsMD’s investigational bio-identical hormone therapy combination of estradiol and progesterone in a single, oral softgel for the treatment of moderate-to-severe vasomotor symptoms due to menopause. Under the terms of the agreement, Knight will pay TherapeuticsMD a milestone fee upon first regulatory approval in Canada of each TX-004HR and TX-001HR, sales milestone fees based upon certain aggregate annual sales in Canada and Israel of each TX-004HR and TX-001HR and royalties based on aggregate annual sales of each TX-004HR and TX-001HR. Knight also agreed to invest US$20 million in TherapeuticsMD common stock concurrently with the closing of the first public offering of TherapeuticsMD common stock to occur within sixty days following the licensing agreement at a price per share equal to the price to the public in such offering.
• Represented Eisai Pharmaceuticals (TYO:4523) in a restructuring of its worldwide collaboration with Biogen (NASDAQ: BIIB) to expand their existing agreement to jointly develop and commercialize investigational Alzheimer's disease treatments. Under the terms of the agreement Eisai has exercised its option to co-develop and co-promote aducanumab, Biogen's investigational anti-amyloid beta (Aβ) antibody for patients with Alzheimer's disease. The expanded agreement leverages each company's respective geographic strengths for commercialization and adjusts the respective share of profits from potential sales of aducanumab. Biogen will receive 55 percent of the potential profits in the United States and 68.5 percent of the potential profits in Europe. Eisai will receive 80 percent of the potential profits in Japan and Asia (excluding China and South Korea). The companies will have a 50:50 co-promotion split of potential profits in the rest of the world. Further, Biogen will book sales in the United States, Europe, and rest of world markets while Eisai will book sales in Japan and Asia (excluding China, South Korea).
• Represented SciClone Pharmaceuticals, Inc. in the following transactions:
  
  • An Exclusive License Agreement with Soligenix Inc. granting rights to SciClone to develop, promote, market, distribute and sell SGX942, a novel first in-class therapy being developed for the treatment of oral mucositis in patients with head and neck cancer, in China as well as Taiwan, South Korea and Vietnam, and a Stock Purchase Agreement under which SciClone acquired US$3 million of Soligenix’s common stock. 
  • An Exclusive License Agreement with Ability Pharmaceuticals SL, of Barcelona, Spain, under which SciClone in-licensed Greater China rights to the solid tumor drug candidate ABTL0812 in a deal potentially worth US$20 million.
  • A Development & Commercialization Agreement with Theravance Biopharma, Inc., under which SciClone has exclusive rights to develop and commercialize Vibativ® (televancin) in China and certain adjacent territories for hospital-acquired bacterial pneumonia and ventilator-assisted bacterial pneumonia (HABP/VABP)
  • A License Agreement and Product Commercialization Agreement with The Medicines Company under which SciClone will have the right to commercialize Angiomax®, an anticloagulant, and Cleviprex®, a calcium-channel blocker, in China.
  • A Collaboration and Option Agreement with Phosplatin Therapeutics under which SciClone obtained an exclusive license for the platinum agent, PT-112, for development and commercialization in China and certain adjacent territories to treat solid tumors.
  • A Collaboration and License Agreement with Taiwan Liposome Company under which SciClone obtained the exclusive rights in China, Hong Kong and Macau to promote, market, distribute and sell ProFlow® for the treatment of peripheral aterial disease (PAD) and other indications.
• Represented Five Prime Therapeutics (NASDAQ: FPRX) in the following transactions:
  
  • Five Prime Therapeutics (NASDAQ: FPRX) in a strategic research collaboration and license agreement with Inhibrx for Inhibrx's novel glucocorticoid-induced tumor necrosis factor receptor (GITR) antibody program.
  • Five Prime Therapeutics in an exclusive License Agreement with bluebird bio to develop chimeric antigen receptor (CAR) T cell therapies for hematologic malignancies and solid tumors.
  • Five Prime Therapeutics in an exclusive Collaboration Agreement with Bristol-Myers Squibb to discover novel immune-oncology therapies.
  • Five Prime Therapeutics in a Research Collaboration Agreement with Adimab LLC to develop and optimize therapeutic monoclonal antibodies, initially focused on cancer immunotherap
• Represented Sunquest Holdings, Inc. (subsidiary of Roper Industries (NYSE: ROP)) in a software license and services agreement with Partners HealthCare Systems. The license agreement was to be signed upon Sunquest completing its acquisition of GeneInsight, a Partners spin-out company that provides clinical genomics services. Under the software license and services agreement Partners and its affiliates will have the ability to continue using GeneInsight’s technology and the parties will continue to collaborate on future clinical genomics service.
• Represented RCT Logic in the sale to Pharmaceutical Product Development, LLC (PPD) of certain assets related to sequential parallel comparison design, which is a clinical trial methodology developed at Harvard University that reduces the placebo effect.
• Represented La Jolla Institute for Allergy and Immunology (LIAI) in a six-year extension of its existing research alliance with Kyowa Hakko Kirin California, Inc., a wholly-owned subsidiary of Kyowa Hakko Kirin Co., Ltd., a global specialty pharmaceutical company, under which LIAI will receive a combination of discretionary research funding, and funds dedicated to specific projects to be selected by a steering committee of La Jolla Institute and Kyowa Hakko Kirin leaders.
• Represented CHDI Foundation, Inc., in research agreements related to Huntington's Disease, including with Sangamo Biosciences, IsisPharmaceuticals, Inc., GNS Healthcare, the Friedrich Miescher Institute for Biomedical Research (part of the Novartis Research Foundation), Siena Biotech, SpA and Galenea Corporation.
• Represented PDL BioPharma, Inc., in its spinoff of, and cross-license agreement with, Facet Biotech Corporation.
• Represented Mevoked, Inc. in its collaboration agreement with Mayo Clinic to develop an analytics software-based platform to provide real-time tools for clinicians to use with patients who have been diagnosed with depression.

*Some of the above matters were handled prior to joining Sidley.

• Board Member, Biopharma Leaders of Color, Inc.
• Group Member, University of California Santa Cruz, Technology Transfer Advisory 
• Board Member, For People of Color, Inc.