Simpson Thacher represented CSL Limited (ASX: CSL) in connection with its announced strategic collaboration and purchase option agreement with Vitaeris Inc. to expedite the development of clazakizumab as a therapeutic option for solid organ transplant rejection.
Vitaeris is a clinical stage biopharmaceutical company based in Vancouver, British Columbia. Clazakizumab is a humanized, monoclonal antibody that binds to and inhibits Interleukin-6 (IL-6). IL-6 is an important driver of the inflammatory response and is known to play a key role in transplant rejection.
Under the terms of the agreement, Vitaeris will receive a US$15 million cash payment from CSL followed by research and development milestone payments over the course of several years. The agreement provides CSL an exclusive option to acquire Vitaeris, and includes future sales-related payments to Vitaeris as well as a royalty to Alder BioPharmaceuticals, Inc.
CSL is a leading global biotechnology company with a dynamic portfolio of life-saving medicines, including those that treat haemophilia and immune deficiencies, as well as vaccines to prevent influenza. CSL provides life-saving products to more than 60 countries and employs nearly 20,000 people.
The Simpson Thacher team includes Mark Pflug (Picture), Michael Ting and William Hong (M&A); and Noah Leibowitz and Amber Harezlak (IP).
Involved fees earner: Mark Pflug – Simpson Thacher & Bartlett; William Beom Hong – Simpson Thacher & Bartlett; Noah Leibowitz – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;
Clients: CSL Limiited;