Ropes & Gray advised Nona Biosciences in a license agreement with AstraZeneca for preclinical monoclonal antibodies that will be used to develop targeted oncology therapies using Nona’s antibody discovery platform. The transaction was announced on May 22.
Under the agreement, Nona will receive $19 million upon completion of the transaction. Nona is eligible to receive an additional $10 million in potential near-term milestone payments and up to $575 million upon achieving specified development, regulatory and commercial milestones, as well as tiered royalty payments on net sales. In addition, Nona is eligible to receive payments for the option programs should AstraZeneca exercise them.
The Ropes & Gray team included life sciences licensing partner Abigail Gregor, life sciences licensing associate Nicole Rohr, tax partner David Saltzman, and life sciences licensing associate Derek Mubiru.
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