Fasken handed cancer drug licensing deal

Fasken Martineau Stringer Saul has represented longstanding client Antisoma on a global licensing agreement with pharmaceutical firm Novartis. The deal concerns Antisoma’s vascular disruption drug AS1404, which is in development for the treatment of lung, ovarian and prostate cancers. If all requirements are met Antisoma could receive up to $890m (£446.91m) in addition to royalties on sales. Initially $75m (£37.66m) will be paid, with a further $25m (£12.55m) due when the drug enters a phase three trial for lung cancer. Gary Howes, head of the life sciences group at Fasken, acted on the deal. Novartis was represented by its in-house legal team.