Locust Walk is pleased to announce that our client, Medgenics, Inc. (NYSE: MDGN), has entered into a collaboration with Kyowa Hakko Kirin Co., Ltd. for the development and commercialization of Kyowa Hakko Kirin’s first-in-class anti-LIGHT monoclonal antibody.
Locust Walk leveraged its existing relationships with key business development executives at Kyowa Hakko Kirin, as well as its local presence in Japan, to help facilitate and expedite the collaboration discussions with Kyowa Hakko Kirin. Steve Engen at Locust Walk in Japan worked closely with both the Medgenics and Kyowa Hakko Kirin team members to ensure messages were effectively communicated to help ensure mutual understanding. Steve also advised Medgenics on key issues pertaining to the collaboration deal structure.
Medgenics plans to initiate a signal finding study testing the drug in Severe Pediatric Onset Inflammatory Bowel Disease (IBD) in collaboration with The Children’s Hospital of Philadelphia (CHOP). Upon completion of the signal finding study in severe pediatric onset IBD, Medgenics will have an option to license rights to develop the program. Following exercise of the option, Medgenics will make a one-time upfront payment in the low single-digit millions to Kyowa Hakko Kirin. Kyowa Hakko Kirin will then select one of two potential collaboration structures: a co-development/co-commercialization partnership or a licensing arrangement. Terms for both structures have been pre-agreed and include a combination of royalties and profit sharing.