Foley Hoag Client Translational Therapeutics Signs Licensing Agreement With Clavis Pharma to Develop Thyroid Cancer Treatment
May 16, 2011
Foley Hoag LLP represented Translational Therapeutics Inc. as it entered into a strategic licensing agreement with Clavis Pharma ASA of Norway regarding the development and commercialization of a thyroid cancer treatment.
Under the terms of the agreement announced May 16, Clavis Pharma will license the compound TRX-201 (formerly known as CP-4033) to Translational Therapeutics, a biopharmaceutical firm based in Arlington, Mass. Translational Therapeutics will develop TRX-201 for use in the treatment of aggressive thyroid cancer and will evaluate its potential for use in the treatment of other solid tumors. TRX-201 is a patented derivative of ribavirin and is currently in the preclinical stage of development.
Clavis Pharma will receive a minority equity stake in Translational Therapeutics and potential future milestone and royalty payments. Further terms of the agreement were not disclosed.
“We congratulate Translational Therapeutics and Clavis Pharma on entering into this agreement, which will help advance Translational Therapeutics’ targeted cancer drug development program,” Quillen said. “We look forward to continuing to assist Translational Therapeutics with the development and commercialization of this product.”
About Translational Therapeutics
Translational Therapeutics Inc., based in Arlington, Mass., is a biopharmaceutical firm focused on commercializing cancer therapeutic systems that provide superior, personalized, evidence-based clinical care solutions for the treatment of high-grade, poor prognosis human cancers.
About Foley Hoag LLP
Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and staff contribute to the exceptional service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.