Freshfields advised Cullinan Therapeutics, a biopharmaceutical company focused on developing modality-agnostic targeted therapies, on its agreement with Genrix Bio for a global (ex-Greater China), all indication, exclusive license to velinotamig, a clinical-stage BCMAxCD3 bispecific T cell engager, for development in autoimmune diseases.

Under the terms of the agreement, Genrix Bio will receive an upfront license fee of $20 million for exclusive rights to develop and commercialize velinotamig in all disease areas globally outside of Greater China. Genrix Bio will also be eligible for up to $292 million in development and regulatory milestones plus up to an additional $400M in sales-based milestones, as well as tiered royalties from mid-single digits up to the mid-teens on potential ex-Greater China net sales.

The Freshfields team was led by Adam Golden and included partner Richard Bird, counsel Ya Ma, senior associates Fan Li and Jake Silvers, and associates Yichen Xing, Laura Zhu, Juliana Zhang and Wolfgang Paulson.

Partner Joe Soltis provided tax advice. Special counsel Meytal McCoy provided antitrust advice. Trainee Vivian Wang provided support.