Laekna：LAE118 Exclusively Licensed in $527M+ Deal with Vasque Bio
On June 10, Laekna Therapeutics issued an announcement stating that it has entered into an exclusive license agreement with Vasque Bio, Inc.
Under the terms and conditions of the license agreement, Laekna has granted Vasque Bio an exclusive worldwide license (excluding mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region, and Taiwan) to develop, manufacture, commercialize, and otherwise utilize LAE118 (a novel PI3Kα pan-mutant selective inhibitor), along with related rights.
In consideration thereof, Laekna is entitled to a non-refundable and non-creditable upfront cash payment of US$10 million, and without additional consideration, is entitled to up to a high double-digit percentage of Vasque Bio’s issued common stock, or a cash payment in lieu of such common stock. Under the license agreement, Laekna is also entitled to development and sales milestone payments totaling up to US$517 million, as well as tiered royalties ranging from single-digit to double-digit percentages based on future net sales of LAE118 within the licensed territory. Additionally, if Vasque Bio consummates a qualifying strategic transaction or acquisition meeting certain conditions (related to the use of LAE118), Laekna will be entitled to additional payments of up to 50% of the value of such strategic transaction.
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