GreenGate Partners advises 3B Pharmaceuticals on USD 500 million license agreement with Novartis

Munich/ Berlin — Berlin-based 3B Phar­maceu­ti­cals GmbH has signed an exclu­sive license agree­ment with Novar­tis Inno­va­tive Thera­pies AG as licen­see. Under the agree­ment, Novar­tis recei­ves world­wide deve­lo­p­ment and commer­cia­liza­tion rights for diagno­stic and thera­peu­tic appli­ca­ti­ons of parts of 3BP’s FAP targe­ting peptide radio­li­gand tech­no­logy. The tech­no­logy targets fibro­blast acti­va­tion protein (FAP), a promi­sing ther­ano­stic target due to its expres­sion in a variety of cancers. In 3BP’s radio­li­gand tech­no­logy, the peptide is combi­ned with a radio­ac­tive isotope that, depen­ding on the type of isotope, enables either imaging or thera­peu­tic applications.

Under the agree­ment, 3BP will receive an initial payment of $40 million and up to $425 million in deve­lo­p­ment, regu­la­tory and commer­cial mile­stone payments, in addi­tion to tiered royal­ties on net sales.

About 3BP

3B Phar­maceu­ti­cals rese­ar­ches and deve­lops targe­ted radio­phar­maceu­ti­cals that provide targe­ted and
perso­na­li­zed approach to the treat­ment of cancer. Our pepti­des and pepti­do­mime­tics represent
excel­lent tumor-speci­­fic targets and are linked via chela­tion to thera­peu­tic and diagnostic
radio­iso­to­pes coupled via a chela­ting agent. As a leader in peptide disco­very and opti­miza­tion, 3BP has built a tech­no­logy plat­form that spans from hit iden­ti­fi­ca­tion to early clini­cal deve­lo­p­ment. www.3b-pharma.com

3BP is a long-stan­­ding client of Ellen Berg­mann. The mandate has been in place since the company was foun­ded in 2008. Ellen Berg­mann has parti­cu­lar exper­tise in advi­sing biotech and phar­maceu­ti­cal compa­nies on complex licen­sing and deve­lo­p­ment agree­ments, espe­ci­ally in the field of radio­phar­maceu­ti­cals. She has successfully advi­sed 3BP on previous licen­sing and deve­lo­p­ment agree­ments, e.g. the prede­ces­sor agree­ment to the current deal with Novar­tis between 3BP and the US company Clovis Onco­logy Inc. and in the licen­sing and rese­arch agree­ment between 3BP and the Swiss phar­maceu­ti­cal company Debio­ph­arm Inter­na­tio­nal SA.

Advi­sor 3B Phar­maceu­ti­cals: Green­Gate Part­ners Rechts­an­walts­ge­sell­schaft mbH

Ellen Berg­mann, LL.M. (Lawyer, Partner)

About Green­Gate Partners
Green­Gate Part­ners is a tech­no­logy law firm with parti­cu­lar exper­tise around tran­sac­tions and venture capi­tal. From our offices in Berlin, Hamburg and Munich, expe­ri­en­ced lawy­ers offer their clients first-class advice at eye level.