Palo Alto and Shanghai – October 29, 2024 – Cooley advised Chimagen Biosciences, a privately held biotechnology company, on its agreement to sell CMG1A46, a clinical-stage dual CD19 and CD20-targeted T-cell engager (TCE), to GSK, a global biopharma company. Under the terms of the agreement, GSK will pay $300 million upfront to acquire full global rights to CMG1A46, and Chimagen will be eligible to receive success-based development and commercial milestone payments totaling up to $550 million. The agreement is subject to customary conditions, including applicable regulatory agency clearances under the Hart-Scott-Rodino Act in the US.
Lawyers Marya Postner, Zack Gong, Yiming Liu, Jenny Ge and Monica Xu led the cross-border Cooley team advising Chimagen.
A Cooley team led by Liu, Xu, Ivy Wang and Lunga Su previously represented Chimagen on its Series B financing, led by Foresite Capital and Lilly Asia Ventures.
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