Goodwin advised Generate Biomedicine on the deal.
Generate Biomedicines announced its research collaboration agreement with Amgen (NASDAQ: AMGN) to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities. As part of the research collaboration, Amgen will pay $50 million in upfront funding for the initial five programs with a potential transaction value of $1.9 billion plus future royalties, and will have the option to nominate up to five additional programs, at additional cost. For each program, Amgen will pay up to $370 million in future milestones and royalties up to low double digits. Amgen will also participate in a future financing round for Generate. Additional terms were not disclosed.
Generate Biomedicines is the first drug generation company, pioneering a machine learning-powered multimodality Generative Biology platform with the ability to generate new drugs on demand across a wide range of biologic modalities. Generate Biomedicines was founded by Flagship Pioneering after two years of foundational research in its Labs unit and launched in 2020.
The Goodwin team was led by Chris Denn (Picture), Sarah Stoiber, Rebecca Gaverman, and Kingsley Taft (Licensing), and Rob Dzialo, Monique Noel, Ryan Donahue, Joseph Theis, and Stuart Cable (Corporate), and included Paul Jin (Antitrust), Anne Brendel and Roger Cohen (Healthcare), and Heiko Penndorf, and Dan Karelitz (Tax).
Involved fees earner: Anne Brendel – Goodwin Procter; Stuart Cable – Goodwin Procter; Roger Cohen – Goodwin Procter; Christopher Denn – Goodwin Procter; Ryan Donahoe – Goodwin Procter; Robert Dzialo – Goodwin Procter; Paul Jin – Goodwin Procter; Daniel Karelitz – Goodwin Procter; Monique Noel – Goodwin Procter; Heiko Penndorf – Goodwin Procter; Sarah Stoiber – Goodwin Procter; Kingsley Taft – Goodwin Procter; Joseph Theis Jr. – Goodwin Procter;
Law Firms: Goodwin Procter;
Clients: Generate Biomedicines;