Sidley Represents Sino Biopharm in an Exclusive License Agreement With AstraZeneca

Sidley is representing Sino Biopharmaceutical Limited (Sino Biopharm, HKEX: 1177) in connection with an exclusive license agreement entered into between Chia Tai Tianqing Pharmaceutical Group Co., Ltd. (CTTQ), a subsidiary of Sino Biopharm, and AstraZeneca for the development, manufacturing, and commercialization of the Sino Biopharm’s PDE3/4 inhibitor, TQC3721.  Subject to the terms and conditions of the Agreement, AstraZeneca is granted an exclusive license to develop, manufacture, and commercialize TQC3721 outside China.  AstraZeneca also gains exclusive global rights for certain future development programs.  Sino Biopharm is eligible to receive an up-front payment of US$200 million, with additional development, regulatory, and sales milestones, totaling up to US$1.9 billion, as well as tiered royalties ranging up to double-digit percentages based on the annual net sales of TQC3721 products.  The agreement is subject to customary closing conditions, including regulatory clearances.

The Sidley team was led by Joshua Hofheimer (Technology and Life Sciences Transactions), Ruchun Ji (M&A and Private Equity), and Jean Qiu (Technology and Life Sciences Transactions), with the support of Vadim Brusser (Antitrust and Competition), Francesca Blythe (Privacy and Cybersecurity), Chen Yang (Food, Drug and Medical Device), Miriam Carroll Silvestri (Antitrust and Competition), Jason Menzies (Tax), and Taylor Ishida (M&A).