Latham Advises Norgine on Exclusive Licensing Agreement With Vir Biotechnology

Latham & Watkins has advised Norgine, a leading European specialty pharmaceutical company, on an exclusive licensing agreement with Vir Biotechnology (Nasdaq: VIR). Under this agreement, Norgine will commercialize the combination of tobevibart and elebsiran for the treatment of Chronic Hepatitis Delta (CHD) in Europe, Australia, and New Zealand. Under the terms of the license agreement, Vir Biotechnology will receive a €55 million initial reimbursement payment and up to €495 million in potential regulatory and commercial milestone payments. Additionally, Vir Biotechnology will receive tiered, mid-teen to high-twenties percent royalties on net sales in Norgine’s licensed territories. The closing of this transaction with respect to certain jurisdictions outside the United States is subject to Norgine receiving regulatory approval from the applicable authorities as may be required.

Tobevibart is an investigational broadly neutralizing monoclonal antibody targeting the hepatitis B surface antigen (HBsAg). Elebsiran is an investigational hepatitis B virus-targeting small interfering ribonucleic acid (siRNA) discovered by Alnylam Pharmaceuticals, Inc. The combination of tobevibart and elebsiran has been granted Breakthrough Therapy and Fast Track designations by the U.S. Food and Drug Administration (FDA), and Priority Medicines (PRIME) and orphan drug designations by the European Medicines Agency (EMA).

This deal builds on recent transactions on which Latham & Watkins has advised Norgine in the past year, including Norgine’s acquisition of Theravia and Norgine’s exclusive licensing agreement with X4 Pharmaceuticals.

The Latham team was led by London newly-promoted counsel Oliver Mobasser, with New York counsel Eliot Choy, London partner Robbie McLaren, and London associate Luke Nauth. Advice was also provided on tax matters by London partner Simon Skinner, with associate Tom O’Malley, and on regulatory matters by Paris partner Eveline Van Keymeulen and Washington, D.C. partner Chris Schott, with Paris associate Grégoire Paquet.