Bringing a Cancer Drug to Market
Researchers at a large non-profit health system operating in more than 40 locations may have found a way to deliver cancer drugs past the formidable blood brain barrier. They called us to help deliver that technology to market by negotiating a licensing agreement with a startup biotechnology company.
As our client's long time licensing counsel, we were familiar with the nature of their technology patent programs, their staff, and their particular licensing requirements. Because the health system is a non-profit organization, federal law requires that it receive fair market value for its technology in any licensing arrangement.
However, the biotech company interested in licensing and developing the technology was cash-strapped. So we helped negotiate an agreement that allowed the biotech startup to conserve cash by providing our client with an equity stake in the startup company. The deal means their technology is one step closer to commercialization – that's good not only for the institution but also its future cancer patients.