The Life Sciences team advised Sichuan Kelun Biotech BioPharmaceutical (“Kelun-Biotech”) and Harbour BioMed and in a license agreement with Windward Bio AG (“Windward Bio”) for HBM9378/SKB378, an anti-thymic stromal lymphopoietin (TSLP) fully human monoclonal antibody co-developed by Kelun-Biotech and Harbour BioMed. Under the terms of the agreement, Windward Bio is granted an exclusive license to research, develop, manufacture, and commercialize HBM9378/SKB378 globally, excluding Greater China and several Southeast and West Asian countries. In return, Kelun-Biotech and Harbour BioMed are eligible to receive a total of up to $970 million upfront and milestone payments, as well as tiered royalties ranging from single to double digits on net sales. The $45 million upfront and near-term milestone payments include both cash payment and an equity interest in Windward Bio's parent company.
Goodwin additionally advised Harbour BioMed and Kelun-Biotech in the financing for Windward Bio which launched with a Series A financing of $200M. The financing was led by OrbiMed, Novo Holdings and Blue Owl Healthcare Opportunities with the co-investment of SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital, and Pivotal bioVenture Partners. The money will help fund Windward’s mission of improving treatment options for advanced immunological diseases and progress its discovery pipeline of bispecifics.
Kelun-Biotech is a biopharmaceutical company committed to the R&D, manufacturing and commercialization of innovative drugs. Since its incorporation in 2016, Kelun-Biotech has been committed to addressing medical needs in China and globally. Empowered by their integrated drug development capabilities and a well-established management system that covers all key business functionalities, Kelun-Biotech is dedicated to the in-house development of differentiated treatments to improve the existing standard of medical care. As one of the pioneers and innovators in the development of antibody drug conjugates (ADCs), Kelun-Biotech has accumulated more than ten years of experience in ADC development and is one of the first biopharmaceutical companies in China, and one of the few globally, to establish an integrated ADC R&D platform, OptiDCTM.
Harbour BioMed is a global biopharmaceutical company committed to the discovery, development, and commercialization of novel antibody therapeutics focusing on immunology and oncology. The Company is building its robust portfolio and differentiated pipeline through internal R&D capability, collaborations with co-discovery and co-development partners, and select acquisitions. The proprietary antibody technology platform Harbour Mice® generates fully human monoclonal antibodies in two heavy and two light chains (H2L2) format, as well as heavy chain only (HCAb) format.
The financing was led by Sam Beavers and Mayan Katz and the licensing transaction was led by David Chen, Elliot Horlick, Jo-an Chen, John Yates, Longfei Fang and Kevin Guan with invaluable assistance from Richard Matheny III and Gozde Guckya (Global Trade).
For more information on the deal, please read the licensing press release, financing press release, and coverage from Fierce Biotech.