Baker McKenzie advises CureVac AG on cooperation with Eli Lilly
Baker McKenzie advised CureVac AG on a collaboration with Eli Lilly and Company (NYSE: LLY) focused on the development of cancer vaccine products.
Under the terms of the agreement, CureVac will receive an upfront payment of $50 million and an equity investment of €45 million. CureVac is also eligible to receive more than $1.7 billion in development and commercialization milestones if all five vaccines are successfully developed, plus tiered royalties on product sales.
"Our client develops innovative therapeutics using the latest technologies and high quality standards. in the field of oncology. The cooperation with Eli Lilly and Company is another milestone for CureVac AG," commented Dr. Constanze Ulmer-Eilfort, Partner at Baker McKenzie who led the project.
CureVac AG is a long standing client of Baker McKenzie - as was the case with the advice on the Equity investment agreement with the Bill & Melinda Gates Foundation some time ago.
CureVac, a Tübingen-based company, is a global biopharmaceutical company in the field of mRNA-based vaccine technologies. Based on the RNActive (®) technology, CureVac develops novel cancer immunotherapy and prophylactic vaccines against infectious diseases.
Eli Lilly and Company is one of the largest pharmaceutical companies in the world with 42,000 employees worldwide, production plants in 13 countries and a worldwide annual turnover of over 21 billion US dollars.
Baker McKenzie regularly advises on transactions and restructurings, including IP aspects - most recently Ganymed Pharmaceuticals on its sale to Astellas Pharma, OSRAM Licht AG on the sale of the general lighting business under the name "Ledvance", Allegion on the acquisition of Trelock, Magna Acquisition of Telemotive, HITACHI Koki on the acquisition of Metabo AG, ZF Friedrichshafen AG on the acquisition of the industrial and wind turbine business of Bosch Rexroth AG, Group Le Duff on the acquisition of Kamps and Telefónica / E-Plus on the sale of yourfone to Drillisch.
IP Legal Advisor CureVac AG: Baker McKenzie
Lead: IP: Dr. Constanze Ulmer-Eilfort, LL.M. (partner, Munich)
Team: IP: Fabian Böttger, LL.M. (senior associate, Munich), Pamela T. Church (partner, New York), Dr. Jur Strobos (partner, Washington, DC)
Antitrust: Dr. Nicolas Kredel, LL.M. (partner, Düsseldorf), Jan Kresken, LL.M. (associate, Düsseldorf), Creighton Macy (partner, Washington, DC)