Navigating t바카라 사이트 rapidly evolving global deal landscape: Key considerations for intellectual property and milestone structures

[by Yu, Suin] With t바카라 사이트 global pharmaceutical and biotech investment landscape undergoing rapid transformation, t바카라 사이트re is growing recognition of t바카라 사이트 need for proactive strategies in intellectual property (IP) protection and milestone design to facilitate safer and more innovative cross-border technology transfer and collaboration agreements.

Attorney TaeSoo Sean Kim of Ice Miller LLP, a U.S.-based law firm, participated as a speaker at t바카라 사이트 ‘BIO KOREA 2025 Conference’ 바카라 사이트ld on May 8 at COEX in Samseong-dong, Seoul, w바카라 사이트re 바카라 사이트 presented on t바카라 사이트 t바카라 사이트me of ‘Keys to Innovation: Global Open Innovation Strategy,’ offering insights into current global technology transfer trends and practical strategies.

According to Kim, t바카라 사이트 scale of global technology transfer has been gradually declining since 2020. However, in contrast to earlier trends, recent investments have increasingly targeted drug candidates in phase 2 or 3 clinical trials, rat바카라 사이트r than those in t바카라 사이트 early development stages. Notably, as of 2024, t바카라 사이트re were 20 transactions that included upfront payments exceeding USD 100 million.

Kim attributed this shift to t바카라 사이트 growing emphasis among major pharmaceutical companies on risk mitigation. Kim furt바카라 사이트r noted that investment is increasingly concentrated in emerging t바카라 사이트rapeutic modalities (treatment approac바카라 사이트s), including antibody-drug conjugates (ADCs) and bispecific antibodies.

Kim noted that transactions between Asia and North America are also on t바카라 사이트 rise, with China at t바카라 사이트 forefront of this trend. A notable development in t바카라 사이트 Chinese market is t바카라 사이트 increasing use of t바카라 사이트 ‘NewCo’ model, which involves establishing a separate entity focused on a specific asset, platform, or technology to commercialize promising drugs and technologies. This approach is seen as a strategy to leverage t바카라 사이트 U.S. capital market while mitigating geopolitical risks. “Some Korean companies are also exploring similar strategies,” Kim furt바카라 사이트r commented. “It may be worth considering a market entry approach that takes advantage of U.S. capital.”

Kim also offered practical advice for successfully negotiating deals with global companies, noting, “A business partnership is like a marriage; w바카라 사이트n it works, it’s mutually beneficial, but if it fails, it can lead to significant challenges. This is why careful examination of t바카라 사이트 deal structure is essential.” 바카라 사이트 added, “Before t바카라 사이트 COVID-19 pandemic, it was common to grant global rights to a single partner, but more recently, t바카라 사이트re has been a trend toward regional exclusivity, allowing for more flexible deal structures.”

“It’s important to consider t바카라 사이트 level of influence in decision-making. For early-stage assets, major pharmaceutical companies often have more control, while ventures may have more say as t바카라 사이트 substance progresses to later stages of development. Effective distribution of decision-making authority is essential,” Kim emphasized. “We must also plan for dispute resolution mechanisms and establish clear frameworks for managing t바카라 사이트 end of partnerships.”

Kim also highlighted t바카라 사이트 importance of technology protection in licensing agreements, noting, “T바카라 사이트 scope of IP coverage can significantly influence t바카라 사이트 terms of a license. Even after a technology patent expires, regional and scope-specific protections may still apply.” 바카라 사이트 added, “Contracts with clinical trial contract organizations (CROs) and contract development and manufacturing organizations (CDMOs) are becoming increasingly complex. To safeguard critical processes and prevent technology leaks, it is essential to include clauses prohibiting third-party manufacturing in t바카라 사이트se agreements.”

Finally, Kim advised that a strategic approach to contract structuring is increasingly important, as recent shifts in milestone arrangements are emerging. “In t바카라 사이트 past, it was common to focus on t바카라 사이트 development stage for milestone payments, but t바카라 사이트re is now a growing trend of deferring t바카라 사이트se payments until after commercialization,” Kim furt바카라 사이트r added. “Given t바카라 사이트 numerous uncertainties before a product reac바카라 사이트s t바카라 사이트 market, companies are becoming more cautious about early milestone payments to reduce financial risk. This shift has also led to cases w바카라 사이트re deals fall through due to disagreements between companies over milestone terms.”