Solution
LS Law collaborated closely with the CEO and Chief Medical Officer of Sapient Therapeutics to draft and negotiate the necessary agreements with in-house legal counsel in Canada. The key agreements included a Technology Licence and Services and Equipment Supply agreement, and a Collaboration and Research Agreement with a leading academic institution.
Key Actions:
- Technology Licence and Services Agreement: Drafted and negotiated terms to clarify data ownership and intellectual property.
- Collaboration and Research Agreement: Drafted and embedded Material Transfer terms related to biological samples from clinical trial participants, ensuring clarity in intellectual property rights.
- Pragmatic Approach: Ensured agreements were finalised in a timely manner, aligning with commercial objectives and avoiding overcomplicated legal language.
Results
LS Law successfully finalised the complex agreements, providing clarity and ensuring the protection of Sapient Therapeutics’ intellectual property rights. This crucial legal support allowed Sapient to secure the ownership and development rights of their innovative research, forming the foundation for their continued growth.
Quantified Benefits:
- Intellectual Property Clarity: Ensured clear ownership and development rights for both background and foreground intellectual property.
- Timely Finalisation: Achieved timely and pragmatic finalisation of complex agreements.
- Protected Rights: Safeguarded Sapient Therapeutics’ intellectual property, critical for the startup’s success.
The Future
Sapient Therapeutics, now Avata Biosciences, will continue to rely on LS Law’s expertise for ongoing and future legal challenges. The partnership aims to ensure robust protection of intellectual property and support strategic business development.
How did the client feel
The client was relieved to finalise these key contracts, with the intellectual property contained in these contracts forming the heart of this startup, and hence critical to get it right.