Cellectis receives $12.45 million upfront and will obtain the rest as an equity investment once approved by its board.
Regeneron Pharmaceuticals and Cellectis have resolved a dispute between them relating to a particular use of the latter’s patents covering homologous recombination. Regeneron is paying $12.45 million to use Cellectis’ patents covering certain uses of homologous recombination for drug development.
Regeneron will also invest €3.17 million, or roughly $4.97 million, in Cellectis’ equity. Under this subscription agreement, Regeneron will acquire 368,301 ordinary shares of Cellectis for €8.63 per share, or about $13.54.
Additionally, Regeneron will pay Cellectis a low single-digit royalty based on revenue received from any future licenses or sales of Regeneron’s VelociGene® or VelocImmune® products and services. No royalties are payable with respect to Regeneron’s VelocImmune license agreements with AstraZeneca and Astellas Pharma or the firm’s collaboration with sanofi-aventis. Moreover, no royalties are payable on any revenue from commercial sales of antibodies from Regeneron’s VelocImmune technology.
