PRINCETON, December 2, 2024: Morgan Lewis is advising PTC Therapeutics Inc. on the company’s exclusive global license and collaboration agreement with Novartis Pharmaceuticals Corp. for its PTC518 Huntington's disease program.
Under the terms of the agreement, PTC will receive an initial payment of $1.0 billion, with the potential to earn up to $1.9 billion in development, regulatory, and sales milestones. Additionally, PTC will receive a profit share in the US and tiered royalties in the double digits on sales outside the United States.
PTC is a global biopharmaceutical company focused on the discovery, development, and commercialization of clinically differentiated medicines that provide benefits to children and adults living with rare disorders. Novartis Pharmaceuticals Corp. is a subsidiary of Novartis AG.
Partners David Glazer and Richard Aldridge and associate Esther Phu are representing PTC, along with a cross-border team including partners Alan Leeds, Barton Bassett, Louis Beardell, Victor Ghidu, Harry Robins, Omar Shah, and Michael Masling and associate Benjamin Kurland.