Locus Biosciences Enters a Collaboration and License Agreement with Johnson & Johnson Innovation Valued at Up to $818 Million
Smith Anderson client Locus Biosciences and Johnson & Johnson Innovation announced an exclusive collaboration and license agreement to develop, manufacture and commercialize CRISPR-Cas3-enhanced bacteriophage (crPhage™) products targeting two key bacterial pathogens for potential treatment of certain infections. The collaboration uses Locus’s leading CRISPR-engineered phage therapeutics platform, based on CRISPR-Cas3 gene editing technologies, to modify bacteriophages to target and selectively destroy unwanted harmful bacteria.
According to the press release, under the terms of the agreement Locus will receive $20 million in initial payments, and is eligible to receive up to a total of $798 million in potential future development and commercial milestone payments, and royalties on any product sales.
A Smith Anderson team led by John Therien and Jason Brege advised Locus on this agreement. Smith Anderson serves as primary outside legal counsel for Locus. To read the press release issued by Locus, please click here.
The completion of this transaction further cements Smith Anderson’s leadership in helping life sciences clients execute strategic collaborations for gene editing platforms across a variety of applications. In 2018 alone, Smith Anderson advised on strategic collaborations for various gene editing technologies with a total deal valuation of approximately $2 billion.