A multijurisdictional Life Sciences team advised Zealand Pharma A/S (“Zealand”) on its collaboration with F. Hoffmann-La Roche AG (“Roche”) on the largest ever single asset partnership deal worth up to $5.3 billion, to co-develop and co-commercialize petrelintide monotherapy and potential combination products, including petrelintide/CT-388, in the U.S. and Europe, as a therapy for people with obesity. The transaction is subject to regulatory approvals and other customary closing conditions.
Petrelintide is a Phase 2 stage clinical asset which is a potential best-in-class, long-acting amylin analog for the treatment of obesity.
Zealand, a Danish biotechnology company focused on the discovery and development of innovative peptide-based medicines, will receive upfront cash payments of $1.65 billion, including $1.4 billion due at closing and $250 million in annual payments over two years, as well as potential milestone payments, for a total consideration of up to $5.3 billion.
The Goodwin core deal team was led by Tim Worden, Bob Crawford, Kristopher Brown, Alison Liou, Georgia Powell, and Beth Ashbridge and included Arman Oruc, Sarah Jordan and Anuj Ghai (Antitrust and Competition Law), Dan Karelitz and Erika Pey (Tax), Matt Wetzel (Regulatory), Jeff Simes, Alexandra Valenti, Oliver Glynn-Jones and Sarah McAtominey (Litigation), Duncan Greenhalgh and Michael Brodowski (IP), Markus Käpplinger, Robert Masella and Mayan Katz (M&A), with additional support from Jo-an Chen.
For more information on the agreement, please read the press release and coverage in the Financial Times, Bloomberg and Reuters.