Pharma BD Deal Intelligence
Apellis and Sobi announced a collaboration on 27 October 2020 granting Sobi exclusive ex-US development and commercialization rights to systemic pegcetacoplan for PNH and other complement-mediated diseases. Apellis received $250M upfront with eligibility for up to $915M in development, regulatory and sales milestones plus tiered double-digit royalties; Apellis retained US rights and global ophthalmology rights. The deal closed 8 December 2020. The partnership has since been validated and materially expanded: the European Commission approved Aspaveli (pegcetacoplan) for PNH on 15 December 2021 and for C3 glomerulopathy (C3G) and primary IC-MPGN in patients aged 12+ on 16 January 2026 (the first approved therapy for primary IC-MPGN), opening a second ex-US franchise for Sobi. On 1 July 2025 Sobi deepened its economic stake via a royalty purchase agreement, paying Apellis $275M upfront plus up to $25M in milestones (the $25M was triggered by the January 2026 EU C3G/IC-MPGN approval) to acquire 90% of Apellis' ex-US Aspaveli royalties, with royalties reverting toward the original license terms once defined commercial caps are met.
Assessment window: 5yr post-close.