A Norton Rose Fulbright life sciences transactions team recently advised longtime client Telesta Therapeutics (TSX:TST; PNK:BNHLF) on an exclusive licensing agreement with Ipsen (Euronext: IPN - ADR: IPSEY).
In the transaction, Telesta and Ipsen entered into an exclusive licensing agreement for Ipsen to develop and commercialize MCNA for the treatment of high risk non-muscle invasive bladder cancer (NMIBC) in all countries of the world, with the exception of the US, where Telesta is establishing commercial operations, as well as Canada, South Africa, Mexico, South Korea and Japan.
Telesta is eligible to receive up to US$137 million in upfront and milestone payments comprising a US$10 million upfront payment and additional payments contingent upon achievement of regulatory and sales milestones. In addition, Telesta is eligible to receive meaningful tiered double-digit royalties on net sales of MCNA in the licensed territories.
Telesta retains full and sole ownership of MCNA rights in the US and Japan and will be responsible for the commercial launch of MCNA in the US while Ipsen will immediately initiate discussions with regulatory authorities to identify the regulatory path and potential requirements for the product in Europe and other key licensed territories.
New York partner Andres Liivak led the Norton Rose Fulbright team on the matter, while Toronto associate Steven Zuccarelli provided support. Telesta has been a client of the firm for more than 20 years.