Cooley advised Scorpion Therapeutics in its collaboration agreement with AstraZeneca to discover, develop and commercialize precision medicines against previously hard-to-target cancer proteins, with the potential to transform oncology treatment.
Under the terms of the collaboration agreement, Scorpion will receive an upfront cash payment of $75 million and is eligible to receive additional success-based payments in the form of option fees and milestone payments, as well as tiered royalties on net sales ranging from mid-single digit to low-double digits. In the event Scorpion opts into co-developing and co-promoting a nominated program, Scorpion will participate in the operating costs and be entitled to a proportionate share of the economics in the US, subject to certain adjustments.