Ropes & Gray advised Sunovion Pharmaceuticals on the deal while Cooley represented Otsuka Pharmaceutical.
Sunovion Pharmaceuticals Inc., a subsidiary of Japan’s Sumitomo Dainippon Pharma, signed a worldwide co-development and co-commercialization agreement with Otsuka Pharmaceutical Co., Ltd. for four novel neurology drugs, two of which are in Phase 3 development.
Under the agreement, Otsuka will pay $270 million upfront, and Sunovion is also eligible for development milestone payments of up to $620 million or more if certain development milestones are reached. Otsuka may also make additional commercial milestones. The companies will share both profits and development costs, and will work together on regulatory and commercialization activities.
Sunovion is a global biopharmaceutical company focused on the innovative application of science and medicine to help people with serious medical conditions. Sunovion’s vision is to lead the way to a healthier world.
Otsuka Pharmaceutical Co., Ltd. researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.
The Ropes & Gray team was led by IP transactions partner Hannah England (Freeman) and IP transactions associate Ana Gomez-Palazzo (both of Boston), and included antitrust partner Mike McFalls (Washington, D.C.), litigation & enforcement partner Ruchit Patel (London) and litigation and enforcement counsel Deidre Johnson (Boston).
Lawyers Alison Freeman-Gleason and Brian Stalter led the Cooley team advising Otsuka. Additional assistance was provided by Jacqueline Grise, David Burns, Alexander Israel, Georgina Dietrich, Jan Lang and Marc Suskin.
Involved fees earner: David Burns – Cooley LLP; Georgina Dietrich – Cooley LLP; Alison Freeman-Gleason – Cooley LLP; Jacqueline Grise – Cooley LLP; Alexander Israel – Cooley LLP; Jan Lang – Cooley LLP; Brian Stalter – Cooley LLP; Marc Suskin – Cooley LLP; Hannah England – Ropes & Gray; Ana Gomez-Palazzo – Ropes & Gray; Deidre Johnson – Ropes & Gray; Michael McFalls – Ropes & Gray; Ruchit Patel – Ropes & Gray;