VelaVigo Secures $440 Million Licensing Deal for First-in-Class Antibody
Deal News | Apr 23, 2025 | Goodwin
VelaVigo Bio, a prominent biotech company known for its antibody and ADC discovery and development, has entered its second out-licensing agreement with Ollin Biosciences, Inc. The exclusive agreement, facilitated by legal advisors Goodwin, grants Ollin the rights to develop, manufacture, and commercialize VBS-102, a first-in-class bispecific antibody, globally, excluding Greater China. VelaVigo retains rights in Greater China. The financial terms include an upfront fee, potential milestone payments, and tiered royalties, amounting to a total aggregate of $440 million. VelaVigo is noted for its robust capabilities in translational medicine and early clinical development, with plans to further develop its products in the US and China by 2025.
Sectors
- Biotechnology
- Pharmaceutical
- Legal Services
Geography
- United States – The main market for the development and commercialization activities described in the deal and potential future clinical development location.
- China – VelaVigo retains rights within Greater China and is also a significant future market for VBS-102 clinical development.
Industry
- Biotechnology – The article discusses a licensing deal involving a biotech company, VelaVigo, known for its innovative work in antibody and ADC discovery.
- Pharmaceutical – Involves the development and commercialization of a bi-specific antibody product within the global pharmaceuticals market.
- Legal Services – Goodwin provided legal advisory services for the licensing agreement between VelaVigo and Ollin Biosciences.
Financials
- 440,000,000 – Total potential value of the out-licensing agreement, including upfront payments, milestone payments, and royalties.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VelaVigo Bio | Target Company | Company | A biotech firm specializing in antibody and ADC discovery and development, engaged in a licensing deal for its bispecific antibody product. |
| Ollin Biosciences, Inc. | Bidding Company | Company | Recipient of the licensing agreement for VelaVigo's bispecific antibody, responsible for its development and commercialization globally, excluding Greater China. |
| Goodwin | Legal Advisor | Company | Provided legal advisory services for the licensing agreement between VelaVigo and Ollin Biosciences. |
| Wenseng Wendy Pan | Legal Advisor | Person | Led the Goodwin legal team advising on the VelaVigo licensing deal. |