On June 18, 2026, Denali Therapeutics, a biotechnology company pioneering a new class of biotherapeutics designed to cross the blood-brain barrier using its proprietary TransportVehicle™ platform, announced it has entered into a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for gross proceeds of $195 million. Wilson Sonsini Goodrich & Rosati advised Denali on the transaction.

The U.S. Food and Drug Administration (FDA) awarded the PRV to Denali following accelerated approval of the enzyme replacement therapy AVLAYAH™ for the treatment of Hunter syndrome in March 2026. AVLAYAH is the first FDA-approved medicine in an emerging class of biotherapeutics designed to cross the blood-brain barrier via transferrin receptor (TfR)-mediated transport.

The Wilson Sonsini team that advised Denali on the transaction includes Norm Hovijitra, Miranda Biven, Kim Biagioli, Michelle Yost Hale, Myra Sutanto Shen, and Han Shen.

For more information, please see Denali’s news release.