We are advising GSK on the transaction 

Davis Polk is advising GSK plc on its agreement to collaborate with Flagship Pioneering, Inc. with the goal of discovering and developing a portfolio of future transformational medicines and vaccines, starting in respiratory and immunology. GSK and Flagship will initially fund up to $150 million upfront to support an exploration phase to identify the most promising concepts for further research and development with Flagship’s bio platform companies. From these explorations, the collaboration aims to identify a portfolio of up to 10 novel medicines and vaccines which will each be subject to an exclusive option by GSK for further clinical development. Under the terms of the agreement, Flagship and its bio platform companies will be eligible to receive up to $720 million in upfront, development and commercial milestones from GSK, as well as preclinical funding and tiered royalties for each acquired program.

GSK is a global biopharma company with a purpose to unite science, technology and talent to get ahead of disease together.

Flagship Pioneering, which created mRNA Covid-vaccine maker Moderna, invents and builds bio platform companies, each with the potential for multiple products that transform human health or sustainability. Since its launch in 2000, Flagship has originated and fostered more than 100 scientific ventures, resulting in more than $75 billion in aggregate value. To date, Flagship has deployed over $3.8 billion in capital toward the founding and growth of its pioneering companies alongside more than $27 billion of follow-on investments from other institutions.

The Davis Polk corporate team includes partners William J. Chudd and Daniel Brass and associates Rachel Schlosser and Chase Belford. Partner David R. Bauer, counsel Samantha Lefland and Christopher C. Woller and associate Emma Willems are providing intellectual property advice. Partner William A. Curran and associate Constance Zhang are providing tax advice. All members of the Davis Polk team are based in the New York office. 

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