Foley Hoag Represents Chromocell in License and Collaboration Agreement with Astellas
September 30, 2015
Foley Hoag LLP recently represented biotechnology company Chromocell Corporation in its collaboration and licensing agreements with Astellas Pharma Inc. to develop and commercialize new therapies to treat neuropathic pain. Under the collaboration, Chromocell is eligible to receive upfront and milestone payments exceeding $500 million plus royalties.
Chromocell, a life sciences company that improves consumer products and patient lives via breakthrough science and technologies, is focused on the discovery and development of therapeutics through the use of pioneering Chromovert technology, which enables Chromocell to use rare cells ideally suited for effective high-throughput screening.
Under terms of the agreements, Astellas obtains worldwide rights to commercialize Chromocell's novel, peripherally restricted NaV1.7 antagonist, CC8464, and certain, mutually-agreed back-up drug candidates to treat pain that have been identified through Chromocell's Chromovert technology platform. In addition, Chromocell will conduct all development of CC8464 through the initial Phase 2a proof-of-concept clinical trial in neuropathic pain, and may also propose and initiate studies for certain additional indications such as rare diseases and non-oral formulations of the drug candidate.
About Foley Hoag LLP
Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and investment management fields, and in cross-border disputes. Our professionals possess the skills and experience to provide exceptional senior level service to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.