Mintz advised Relation Therapeutics, an industry leader in deploying computation and experimentation to drug discovery, on an equity investment of $15 million from GSK in connection with two simultaneous strategic collaborations with GSK, a global biopharma company. The collaborations are aimed at advancing the development of novel therapeutics for fibrotic diseases and osteoarthritis – conditions that affect millions worldwide and which currently have few treatments addressing their root causes.
Under the terms of the collaboration agreements, Relation will receive an upfront payment from GSK of $45 million, inclusive of the equity investment. Relation will also be eligible for success-based collaboration payments of up to $63 million, as well as potential preclinical, development, and commercial milestone payments averaging $200 million per target, and tiered royalties on net sales of products.
The Mintz team was led by Member Lewis Geffen and Associate Sarah Palmer, who have represented Relation since incorporation.
