Shanghai – June 13, 2024 – Cooley advised FutureGen Biopharmaceutical, an innovative biopharmaceutical company committed to providing high-quality innovative biologics for patients with cancer, immune diseases and other diseases, on its license agreement with AbbVie to develop FG-M701, a next generation TL1A antibody for the treatment of IBD currently in preclinical development.
The Cooley team advising FutureGen was led by partner Yiming Liu and associate Xiaoyu Xu, with valuable support from partners Geoffrey Spolyar and Aaron Pomeroy, special counsels Karen Tsai, David Burns and Sharon Connaughton, and associates Amanda Pacheco and Zhijing Yu.
Under the terms of the agreement, AbbVie will receive an exclusive global license to develop, manufacture and commercialize FG-M701. FutureGen will receive $150 million in upfront and near-term milestone payments and will be eligible to receive up to an additional $1.56 billion in clinical development, regulatory and commercial milestones, as well as tiered royalties up to low-double digits on net sales.
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