Hogan Lovells represents Novartis in Collaboration and Exclusive Option Agreement with IFM Therapeutics
International law firm Hogan Lovells team advised Swiss pharmaceuticals company Novartis in a collaboration and option agreement with IFM Due, a subsidiary of Boston-based biopharmaceutical company IFM Therapeutics, to develop a suite of immunotherapies that inhibit the cGAS/STING pathway to treat a range of serious inflammatory and autoimmune diseases.
Under the terms of the agreement, Novartis will make fixed payments sufficient to fully finance IFM Due's research and development costs for the cGAS/STING program in exchange for the option to acquire the IFM Due subsidiary. Upon option exercise, IFM Due's shareholders will be entitled to consideration in aggregate value of up to $840 million, including an upfront payment upon option closing and other contingent consideration.
The Hogan Lovells team was led by New York Corporate partners Adam Golden and Michael Szlamkowicz, who have previously represented Novartis in multiple deals, including its April 2019 acquisition of IFM Tre, another IFM subsidiary, for up to US$1.6 billion.
A team of cross-practice lawyers from New York and Washington D.C. supported Golden and Szlamkowicz in the transaction: Corporate senior associates Jeffrey Jay and Allison Netto, and associate Katie Haines; Employment partner Michael DeLarco and senior associate David Mitchell; Tax partner Christine Lane and associate Catherine Chen; Benefits partner Martha Steinman and senior associate Ben Clark; and Antitrust partner Leigh Oliver, and senior associate Lauren Battaglia.