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Foley Hoag Advises Dana Farber on Monetizing Royalty Interests

August 09, 2016

$100M+ transaction will provide essential funds to support critical cancer research

Foley Hoag LLP represented Dana-Farber Cancer Institute (DFCI) in monetizing a portion of its interest in royalties defined by certain licensing agreements related to its Programmed Death Ligand-1 (PD-L1) intellectual property. This $100M+ transaction was based on patents Foley Hoag acquired for DFCI and will provide essential funds to support critical cancer research.

PD-L1 inhibitors are immuno-oncology drugs used for the treatment of various types of metastatic cancer. CPPIB Credit Europe S.à r.l., a wholly owned subsidiary of Canada Pension Plan Investment Board, has paid $100 million upfront to acquire a portion of DFCI’s royalty interests and has committed to pay up to $68 million in additional payments, subject to certain conditions.

Foley Hoag attorneys DeAnn Smith and Philip Choi represented DFCI as IP counsel in this matter.