Astellas enters into strategic collaboration and license agreement with Kelonia Therapeutics to develop novel immuno-oncology therapeutics

Client(s) Xyphos Biosciences, Inc.

Jones Day represented Xyphos Biosciences, Inc. (a wholly-owned subsidiary of Astellas Pharma Inc.) in connection with a research collaboration and license agreement with Kelonia Therapeutics, Inc. ("Kelonia"), a biotech company pioneering new genetic medicines using its in vivo gene placement system (iGPS^®). Under the terms of the agreement, the companies will combine Kelonia's iGPS^® with Xyphos' ACCEL™ technology to develop innovative in vivo CAR-T Cell therapies targeting up to two programs. Xyphos will develop and commercialize products created from the collaborative research, and Kelonia will receive upfront, milestone, and royalty payments. Potential milestones and contingency payments approach US$800 million in total. Additionally, Kelonia will receive R&D funding for work performed in the collaboration and is eligible for tiered royalties on net sales up to a double digit percentage.