Ropes & Gray advised Apollo Therapeutics in a licensing agreement with Sunshine Lake Pharma Co., Ltd., a member of China’s HEC Group, pursuant to which Apollo Therapeutics will receive exclusive ex-China rights to develop and commercialize HEC88473, a clinical-stage FGF21/GLP-1 dual receptor agonist developed by Sunshine Lake that has potential in multiple disease areas. The transaction was announced on Nov. 12.
Under the agreement, Sunshine Lake is to receive a $12 million upfront payment and up to $926 million in development, regulatory and commercial milestone payments, in addition to royalties.
Apollo Therapeutics is a UK- and U.S.-based portfolio biopharmaceutical company that has over 20 active therapeutic programs and is building a diversified portfolio of novel therapeutics with uncorrelated risk.
The Ropes & Gray team was led by life sciences partner Rajarshi Banerjee and life sciences associates Peter Chi and Ana Gomez-Palazzo, and included private equity partner Paul Armstrong, tax partners David Saltzman and Chris Agnoli, and litigation & enforcement partner Lisa Kaltenbrunner.
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