Clifford Chance

Clifford Chance advises Keymed on out-licensing transaction with Timberlyne Therapeutics, Inc.

Global law firm Clifford Chance has advised Keymed Biosciences (HKSe: 02162) on its out-licensing transaction with Timberlyne Therapeutics, Inc.

As part of the out-licensing transaction, Keymed has signed a licensing agreement granting Timberlyne the exclusive worldwide rights to develop, manufacture and commercialize CM313 (a potentially best-in-class humanized monoclonal antibody targeting CD38), excluding Greater China.

Timberlyne also closed its US$180 million Series A financing to advance the development of CM313. Investors Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners led the financing, with participation from Boyu Capital, Lilly Asia Ventures, Braidwell LP and 3H Health Investment. Upon closing of the Series A financing, Keymed holds 25.79% in Timberlyne, as its largest shareholder.

Lead partner Yang Yi said, "We are very honoured to have advised Keymed once again on this strategic overseas licensing transaction, which demonstrates our expertise in advising clients in the life science sector."

Yi was supported by a cross-border team of lawyers in Hong Kong, New York, and Washington D.C.:

• Beijing: Associate Xiaohan Sun
• Hong Kong: Counsel Ryan Wong, associate Charmaine Lee and trainee solicitor Luna Wang;
• New York: Partner Matthew Warner, counsel Daryl Fairbairn and associate Vicki Ye;
• Shanghai: Trainee solicitor Ashley Tan
• Washington D.C.: Partner Renee Latour and associate Holly Bauer.

Clifford Chance has an established track record of advising on major healthcare transactions in the Greater China region, including Sanofi's acquisition of exclusive Greater China rights to develop and commercialise Aficamten, Fosun Kairos' licensing agreement with Kite Pharma, and CBC Group and Mubadala's acquisition of UCB's mature business (neurology and allergy) in China.