Freshfields advises Scenic Biotech on cooperation with Genentech
The international law firm Freshfields Bruckhaus Deringer has advised Scenic Biotech BV, headquartered in Amsterdam, on its announced multi-year strategic collaboration with Genentech, a member of the Roche Group. Both partners aim to cooperate in the area of target discovery and therapeutic development based on Scenic Biotech’s disease modifying approach. Under the terms of the agreement, Scenic will utilize its Cell-Seq platform and its data warehouse of genetic modifiers to identify drug targets in multiple therapeutic areas.
The collaboration enables Genentech to select multiple targets for further development with an option to extend the collaboration. Scenic will receive an undisclosed upfront payment and is eligible to receive additional target selection fees for drug targets taken forward by Genentech. In addition, Scenic is eligible for success-based payments for each target based on achievement of certain predetermined milestones, as well as royalties on sales of certain products resulting from the collaboration. Total deal value could exceed US$ 375 million.
Scenic Biotech focuses on identifying genetic modifiers, a completely new class of disease targets, for drug intervention. It has built the largest proprietary data warehouse of genetic modifiers and has already identified a number of novel genetic modifiers for over a dozen inherited diseases.
Freshfields advised on all aspects of the strategic cooperation. The Freshfields team comprised partner Jochen Dieselhorst and associate Elisabeth Wulf (both GT/Corporate).
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