Mayer Brown represented Nestlé Health Science in a licensing and collaboration transaction with Seres Therapeutics to develop and commercialize drugs based on the human microbiome for inflammatory bowel disease and Clostridium difficile. Under the agreement, Nestlé obtained rights to the covered products outside the US and Canada in return for an upfront payment of $120 million and contingent payments linked to the achievement of development and sales-based milestones, as well as royalties on future net sales.
The Mayer Brown team was led by Corporate & Securities partner Reb Wheeler (New York) and included: Corporate & Securities partner David Carpenter and associate Magnus Karlberg (both New York); Intellectual Property partners Joe Mahoney (Chicago) and Ulrich Worm (Frankfurt) and counsel Jon Kim (Chicago); Tax Transactions & Consulting partner Lee Morlock (Chicago); European Competition partner Jens Peter Schmidt (Brussels); and FDA Regulatory partner Mark Mansour (Washington DC).
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