Allogene Therapeutics’ joint venture with Overland Pharmaceuticals

Goodwin Procter LLP advised Allogene Therapeutics, Inc. on the deal.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) announced its formation of Allogene Overland Biopharm, a joint venture with Overland Pharmaceuticals. The joint venture will focus on the development, manufacturing and commercialization of AlloCAR T therapies for patients in greater China, Taiwan, South Korea and Singapore. Allogene Overland will have an exclusive license to develop, manufacture and commercialize specific Allogene candidates targeting BCMA, CD70, FLT3, and DLL3 in the licensed territories. The joint venture will also seek opportunities to advance the global development of AlloCAR T therapies against these targets.

Allogene is a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) therapies for cancer.

Overland is a premier biopharmaceutical company backed by Hillhouse Capital.

Under the terms of the agreement, Allogene Overland will receive an exclusive license to AlloCAR T candidates directed at four targets, BCMA, CD70, FLT3, and DLL3, in the licensed territories. Overland will invest $117 million in capital, which includes an upfront payment of $40 million to Allogene and $77 million in capital to support joint venture operations. Allogene will be eligible to receive a milestone payment per product for each first regulatory approval in China, as well as tiered royalties on net sales.

The Goodwin team was led by Wendy Pan (Picture), Shane Albright, Shoaib Ghias, Sarah Stoiber, Kristina Jacobs, Yuan Dai, and Freddy Yip, and included Richard Matheny, James Brower, and Paul Jin.

Involved fees earner: Shane Albright – Goodwin Procter; James Brower – Goodwin Procter; Yuan Dai – Goodwin Procter; Shoaib Ghias – Goodwin Procter; Kristina Jacobs – Goodwin Procter; Paul Jin – Goodwin Procter; Richard Matheny III – Goodwin Procter; Wenseng Pan – Goodwin Procter; Sarah Stoiber – Goodwin Procter; Freddy Yip – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Allogene Therapeutics, Inc.;


Author: Ambrogio Visconti