The Life Sciences team advised VelaVigo Bio on its second out-licensing agreement of a first-in-class (FIC) asset to Ollin Biosciences, Inc., granting Ollin an exclusive license to develop, manufacture and commercialize VBS-102, a first-in-class bispecific antibody, globally (excluding Greater China). VelaVigo will maintain rights for Greater China. Under the terms of the agreement, VelaVigo will receive an upfront fee and future development, regulatory, and commercial milestone payments in cash and equity, totaling up to approximately $440 million in the aggregate, as well as tiered royalties on sales in Ollin's territory.
VelaVigo is a leading antibody/ADC discovery and development biotech company with a highly efficient discovery engine and strong capabilities in translational medicine, CMC and early clinical development. Its leading products, the FIC bispecific ADCs, are expected to enter clinical development in the US and China in 2025. VelaVigo continues to build capabilities in clinical development, technology platforms, and partnership with biopharmaceutical companies and investors globally to maximize the efficiency of drug development and return on investment.
The Goodwin team was led by Wenseng “Wendy” Pan and included Kevin Guan, Longfei Fang, Yichen Xu, and Susan S Lee.
For more information on the deal, please read the press release.