The Life Sciences team advised Flagship Pioneering in the partnership with GSK with the goal of discovering and developing a portfolio of future transformational medicines and vaccines, starting in respiratory and immunology. The parties will initially fund up to $150 million upfront to support an exploration phase to identify the most promising concepts for further research and development with Flagship’s bioplatform companies. Under the terms of the agreement, Flagship and its bioplatform companies will be eligible to receive up to $720 million in upfront, development and commercial milestones from GSK, as well as preclinical funding and tiered royalties, for each acquired program.
Flagship Pioneering invents and builds bioplatform companies, each with the potential for multiple products that transform human health or sustainability. Since its launch in 2000, Flagship has originated and fostered more than 100 scientific ventures, resulting in more than $75 billion in aggregate value. The current Flagship ecosystem comprises 40 companies.
The Goodwin deal team on the licensing side was led by Chris Denn, Nancy Urizar, Chris Zhong and Kingsley Taft, and on the corporate side by Ed Amer, Brittany Morreale and William Odgen, with invaluable assistance from Daniel Karelitz, Katie Leah, Nathan Langford, Robert Carroll and Susan Lee.
Read more about the agreement in the press release and coverage in Bloomberg.