Kaye Scholer advised longtime client Novartis on a significant multiyear alliance with California-based Aduro Biotech that is intended to enhance efforts to combat cancer by harnessing the body’s immune system. The alliance will focus on developing next generation cancer immunotherapies targeting the Stimulator of Interferon Genes (STING) pathway. Under the terms of the agreement with Aduro, Novartis will make an upfront payment of $200 million to Aduro and will make an initial equity investment in the company for $25 million, with a commitment for another $25 million equity investment at a future date.
The Kaye Scholer team on this transaction was led by Life Sciences Industry Group Co-Chair Andres Liivak and Corporate Partner Thomas Yadlon, and included Associates Tracy Belton, Marisa Silver and Tyler Conway. Intellectual Property Partners David Barr and Ben Hsing, Counsel Tatiana Alyonycheva and Associate Alan Wang helped with IP diligence, and Antitrust Practice Co-chair Saul Morgenstern, Partner Claudia Higgins and Counsel Peter Danias helped with antitrust issues.
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