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8.03.26
Wilson Sonsini Advises Firefly Bio on $1 Billion Acquisition by Johnson & Johnson
On July 29, 2026, Johnson & Johnson announced the completion of its acquisition of Firefly Bio, a biotechnology company advancing its proprietary Firelink™ degrader antibody conjugate platform, for $1 billion in cash. The Firelink™ DAC platform expands Johnson & Johnson’s oncology portfolio and advances the company’s ambition to develop targeted therapies for some of the most prevalent and difficult-to-treat solid tumors, including KRAS-driven cancers. Wilson Sonsini Goodrich & Rosati advised Firefly Bio on the transaction.
Client Highlights
6.24.26
Wilson Sonsini Advises Saturnus Bio on Strategic Collaboration with Merck KGaA, Darmstadt, Germany
On June 23, 2026, Merck KGaA, Darmstadt, Germany, a leading global science and technology company, announced a strategic collaboration with Versant Ventures to launch Saturnus Bio, a next-generation precision cardiology company that utilizes targeted gene modulation to address rare mono-genetic cardiomyopathies with significant unmet need. Wilson Sonsini Goodrich & Rosati advised Saturnus Bio on the transaction.
The research-stage partnership entails a build-to-buy deal structure, including an upfront payment of $50 million from Merck KGaA, Darmstadt, Germany to fund Saturnus Bio’s research activities, securing a minority equity stake in the company, as well as additional success-based preclinical milestones, supporting the development of novel drug candidates for genetic cardiomyopathy patients. Merck KGaA, Darmstadt, Germany has exclusive rights to acquire Saturnus Bio for a pre-determined option payment, in addition to success-based earnouts.
The Wilson Sonsini team that advised Saturnus Bio on the transaction includes:
The research-stage partnership entails a build-to-buy deal structure, including an upfront payment of $50 million from Merck KGaA, Darmstadt, Germany to fund Saturnus Bio’s research activities, securing a minority equity stake in the company, as well as additional success-based preclinical milestones, supporting the development of novel drug candidates for genetic cardiomyopathy patients. Merck KGaA, Darmstadt, Germany has exclusive rights to acquire Saturnus Bio for a pre-determined option payment, in addition to success-based earnouts.
The Wilson Sonsini team that advised Saturnus Bio on the transaction includes:
Client Highlights
6.22.26
Firm Advises Denali Therapeutics on Agreement to Sell Rare Pediatric Disease Priority Review Voucher for $195 Million
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.
Client Highlights
6.11.26
Wilson Sonsini Advises Beren Therapeutics P.B.C. on $300 Million Financing, Including Equity and Debt and Royalty Facilities
On June 10, 2026, Beren Therapeutics P.B.C., a leader in cholesterol trafficking biology and cyclodextrin-based therapeutics, announced it has secured $300 million in combined financing. The financing consists of:
Client Highlights
6.01.26
Firm Advises Edgewise Therapeutics on Its Sale of Sevasemten for up to $2.65 Billion
On June 1, 2026, Edgewise Therapeutics, a leading muscle disease biopharmaceutical company, announced that it has entered into a definitive agreement under which Servier, an independent international pharmaceutical group governed by a foundation, will acquire sevasemten, an orally administered fast skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies, and Edgewise's muscular dystrophy business for $1.55 billion in upfront cash consideration and up to $1.1 billion in additional milestone payments, for aggregate potential consideration of up to $2.65 billion. The transaction strengthens Edgewise’s balance sheet, providing enhanced financial flexibility and sharpening the company’s strategic focus to accelerate and unlock the full potential of its cardiovascular pipeline. Wilson Sonsini Goodrich & Rosati advised Edgewise on the transaction.
Client Highlights
4.08.26
Wilson Sonsini Advises Sidewinder Therapeutics on Oversubscribed $137 Million Series B Financing
On April 8, 2026, Sidewinder Therapeutics, a biopharmaceutical company pioneering the development of next-generation bispecific antibody-drug conjugates (ADCs) for the treatment of cancer, announced the closing of an oversubscribed $137 million Series B financing. The round was co-led by Frazier Life Sciences and Novartis Venture Fund, with participation from the sole Series A investor OrbiMed, as well as new investors including Life Sciences at Goldman Sachs Alternatives, DCVC Bio, Samsara BioCapital, Longwood Fund, Astellas Venture Management, and Alexandria Venture Investments. Wilson Sonsini Goodrich & Rosati advised Sidewinder Therapeutics on the transaction.
Client Highlights
1.08.26
Wilson Sonsini Advises Ventyx Biosciences on $1.2 Billion Acquisition by Eli Lilly
On January 7, 2026, Eli Lilly and Company announced that it has entered into a definitive agreement to acquire Ventyx Biosciences, Inc., a San Diego-based clinical-stage biopharmaceutical company focused on developing innovative oral therapies for patients with inflammatory-mediated diseases. Under the terms of the agreement, Lilly will acquire all the outstanding shares of Ventyx in an all-cash transaction, valuing at approximately $1.2 billion. Wilson Sonsini is advising Ventyx on the transaction.
News Articles
7.08.25
Miranda Biven and Karen Deschaine Honored Among SDBJ’s Women of Influence in Law
On July 7, 2025, Wilson Sonsini partners Miranda Biven and Karen Deschaine were recognized in the San Diego Business Journal’s 2025 special edition of “Women of Influence in Law,” which honors women trailblazers in the legal field in the San Diego region.
News Articles
4.09.25
Miranda Biven Named Among SDBJ's 2025 "Leaders of Influence in Technology"
On April 1, 2025, Wilson Sonsini partner Miranda Biven was named among the 2025 "Leaders of Influence in Technology” in a special supplement by the San Diego Business Journal, recognizing individuals who are making a significant impact in the tech industry.
Client Highlights
4.07.25
Wilson Sonsini Advises RayThera on $110 Million Series A
On April 4, 2025, San Diego-based RayThera, Inc., a biotechnology company focused on small molecule therapies in immunology, announced the successful completion of a $110 million Series A round co-led by Foresite Capital and OrbiMed Advisors, with participation from TTM Capital. Wilson Sonsini Goodrich & Rosati advised RayThera on the transaction.
Client Highlights
3.17.25
Firm Advises Taiho Pharmaceutical on Acquisition of Araris Biotech for Up to $1.1 Billion
On March 17, 2025, Taiho Pharmaceutical Co., Ltd., an R&D-driven specialty pharmaceutical company focusing on the fields of oncology and immune-related diseases, and Araris Biotech AG, a Swiss biotechnology company developing next-generation antibody drug conjugates (ADCs), announced that they have entered into a definitive agreement pursuant to which Taiho Pharmaceutical will acquire Araris. Under the terms of the agreement, Taiho Pharmaceutical will pay $400 million at closing, with the potential for additional milestone payments of up to $740 million. The acquisition, which is expected to be completed in the first half of 2025, follows a research collaboration between Taiho Pharmaceutical and Araris signed in November 2023. Wilson Sonsini Goodrich & Rosati advised Taiho Pharmaceutical on the acquisition.
Araris is a spin-off company of the Paul-Scherrer-Institute in Switzerland and is pioneering the development of best-in-class ADCs with superior design, high linker solubility, and simple manufacturing that address the shortcomings of current generation ADCs. Taiho Pharmaceutical, in addition to antimetabolites, has established and created novel drugs through its proprietary small molecule drug discovery platform, Cysteinomix, enhancing cancer treatment and contributing to patient care. By acquiring Araris' innovative ADC drug discovery technology platform, Taiho Pharmaceutical will further expand its ongoing development portfolio in the field of oncology.
The Wilson Sonsini team that advised Taiho Pharmaceutical on the transaction included Miranda Biven, Jason Breen, Nellie Brutocao, and Ken Clark.
For more information, please see the companies’ joint news release. Additional coverage is available on Fierce Biotech and BioSpace.
Araris is a spin-off company of the Paul-Scherrer-Institute in Switzerland and is pioneering the development of best-in-class ADCs with superior design, high linker solubility, and simple manufacturing that address the shortcomings of current generation ADCs. Taiho Pharmaceutical, in addition to antimetabolites, has established and created novel drugs through its proprietary small molecule drug discovery platform, Cysteinomix, enhancing cancer treatment and contributing to patient care. By acquiring Araris' innovative ADC drug discovery technology platform, Taiho Pharmaceutical will further expand its ongoing development portfolio in the field of oncology.
The Wilson Sonsini team that advised Taiho Pharmaceutical on the transaction included Miranda Biven, Jason Breen, Nellie Brutocao, and Ken Clark.
For more information, please see the companies’ joint news release. Additional coverage is available on Fierce Biotech and BioSpace.
Client Highlights
1.13.25
Wilson Sonsini Advises Light Horse Therapeutics on $62 Million Series A
Wilson Sonsini advised Light Horse Therapeutics, a developer of small molecule therapeutics, on its debut $62 million Series A financing. The financing, announced on January 9, 2025, was led by founding investor Versant Ventures and included Mubadala Capital as well as three strategic investors: Bristol-Myers Squibb Co, Taiho Ventures, and AbbVie. Light Horse is the latest company started by Versant’s Inception Discovery Engine, and its scientific co-founders are Brian Liau, Ph.D., Ben Cravatt, Ph.D., and Nathanael Gray, Ph.D.