International law firm Simmons & Simmons has advised biopharma company Ascendis Pharma on its strategic partnership with Teijin Limited in Japan.
Under the agreement, Teijin will receive an exclusive licence for the further development and commercialisation of TransCon hGH, TransCon PTH, and TransCon CNP for endocrinology rare disease in Japan.
The partnership will see Ascendis receive an initial $70 million, with additional development and regulatory milestones of up to $175 million, alongside transfer pricing and commercial milestones. Ascendis is also eligible to receive royalties on net sales in Japan, of up to mid-20’s percent, varying by product.
The Simmons team was led by London-based Intellectual Property partner Michael Gavey, supported by supervising associate Tom Wales – with key contributions from Simmons’ Digital Business team and Dispute Resolution team. Japanese firm TMI Associates advised on Japanese law matters.
Commenting on the transaction, Michael Gavey said: “This deal represents another step towards achieving global reach for Ascendis’ endocrinology rare disease portfolio. It’s been a pleasure working with the Ascendis team again. Our role in facilitating this complex, cross-border agreement is a further demonstration of the firm’s strength across the Healthcare and Life Sciences sector.”
