Ropes & Gray has played a fundamental role in facilitating a deal where Bristol Myers Squibb (BMS) secures LianBio’s exclusive rights to develop and commercialise heart drug mavacamten for a one-time payment of USD350 million.
The agreement also alleviates LianBio from payment obligations of up to USD127.5 million, associated with milestone payments under a previous licensing agreement with MyoKardia, a subsidiary of BMS.
“The LianBio team executed a successful clinical development and regulatory strategy in our territories and has built robust launch infrastructure in anticipation of mavacamten’s potential approval in China next year. As the global owner, BMS is ideally positioned to continue to build on the value we created for mavacamten in China and to optimise patient access to this important new medicine across these territories,” said Yizhe Wang, CEO of LianBio.
Partners Eric Wu and Hannah England from the life sciences division steered the Ropes & Gray team, alongside capital markets partner Zach Blume. The team also included experts from various practice areas, such as capital markets, life sciences, IP transactions, tax, employment & benefits, and litigation & enforcement.
LianBo is a cross-border biotech company, partnering with global biopharmaceutical companies to develop a diversified portfolio of drugs to treat cardiovascular, oncology, ophthalmology, and inflammatory disease.