Baker McKenzie Advises Sino Biopharm on up to US$1.53 Billion Exclusive License Agreement with Sanofi for Rovadicitinib

Baker McKenzie has advised a subsidiary of Sino Biopharmaceutical Limited ("Sino Biopharm") - Chia Tai Tianqing Pharmaceutical Group Co., Ltd. ("CTTQ"), on an exclusive license agreement with Sanofi S.A. ("Sanofi"), for rovadicitinib, a global first-in-class, novel, potent oral small molecule JAK/ROCK inhibitor.

Under the Agreement, Sino Biopharm's subsidiary, Chia Tai Tianqing Pharmaceutical Group Co., Ltd. has granted Sanofi an exclusive global license to develop, manufacture and commercialize rovadicitinib. Sino Biopharm is eligible to receive a total payment of up to US$1.53 billion including an upfront payment of US$135 million plus potential development, regulatory and sales milestone payments, and up to double-digit tiered royalties based on the annual net sales of rovadicitinib. The effectiveness of the agreement is subject to customary closing conditions, including regulatory clearances. For more details on this deal, please refer to the company's announcement.

The cross-office, cross-practice deal team was led by Julia Schieber (Partner, Life Sciences Transactions), Derek Poon (Partner, M&A/ PE) and Nadine Charrière (Senior Associate, Life Sciences Transactions) of Baker McKenzie, Yilan Yang (Partner, IP), Lei Ye (Partner, Transactions) and Laura Liu (Partner, Antitrust & Competition) of FenXun, the joint operation partner of Baker McKenzie in China. Other members of the team include Creighton Macy (Partner, Antitrust & Competition), Stephen Crosswell (Partner, Antirust & Competition), Oren Livne (Partner, Healthcare & Life Sciences), Evan Harris (Senior Associate, Antitrust & Competition) and Marisa Dieken (Associate, Antitrust & Competition).

Commenting on the deal, Julia said: "We are pleased to advise Sino Biopharm who continued to entrust us on another strategic partnership. This transaction marks a significant milestone in Sino Biopharm's globalization strategy. It underscores our capabilities to navigate complex, multijurisdictional matters and deliver practical solutions for our clients, and our commitment to guiding them through their most challenging and strategic transactions."

Derek added: "As Sino Biopharm continues to expand their global footprint, we are proud to have the opportunity to continue to guide them in their growth journey. We look forward to continuing to support their development and help them explore new horizons that drive future innovation."

Baker McKenzie's Healthcare & Life Sciences group is one of the largest of any international law firm comprising more than 800 lawyers in 45 countries. The team, which includes professionals with scientific backgrounds, is recognized by clients and industry peers for the premium quality advice it provides across all aspects of legal issues that healthcare and life sciences, biotechs and medical devices companies face, including M&A, reorganizations; carve-outs; divestitures; collaborations; licensing and other commercial arrangements; tax; regulatory compliance; data and technology; IP; advertising and promotion; employment and compensation; ESG and sustainability; competition; supply chains; trade; product safety and liability; and litigation.