Lowenstein Sandler represents Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), a precision oncology company, in its exclusive licensing agreement with CSPC Megalith Biopharmaceutical Co., Ltd, a subsidiary of CSPC Pharmaceutical Group Limited (CSPC; HKEX: 01093) for development and commercialization of CRB-701 (SYS6002), a novel clinical stage antibody drug conjugate designed for improved therapeutic index and to act on a broad range of Nectin-4 expressing tumors.
The agreement covers exclusive commercialization rights to CRB-701 in the United States, Canada, the European Union (including the European Free Trade Area), the United Kingdom, and Australia. CSPC will retain all rights to SYS6002 in the remaining global markets. The IND for CRB-701 has been cleared by the US FDA. CRB-701 is currently being investigated by CSPC in a Phase 1 dose escalation clinical trial in advanced solid tumors in China. Corbus is planning to bridge data from this Phase 1 trial to support a US clinical trial starting in 2024 focusing on urothelial cancer and other Nectin-4-positive solid tumors potentially including lung, breast and prostate cancer.
CSPC will receive an upfront payment of $7.5 million. CSPC will also be eligible to receive royalties on net sales and up to $130 million in potential development and regulatory milestone payments and $555 million in potential commercial milestone payments.
The Lowenstein deal team included Michael J. Lerner, Nicholas G. Mehler, James C. Shehan, and James Assmann.
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