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10.01.26
Wilson Sonsini Advises SpyGlass Pharma on Acquisition of Advanced Vision Science
On October 1, 2026, SpyGlass Pharma, a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions, announced the acquisition of all outstanding shares of Advanced Vision Science (AVS), an ophthalmic medical device company and manufacturer of intraocular lenses (IOLs) and lens materials, for approximately $13 million dollars in cash. This acquisition secures scalable commercial IOL manufacturing capacity for SpyGlass Pharma for its Phase 3 lead product candidate (the BIM-IOL System) and accelerates pathway to adding premium lens options into its IOL-based drug delivery system. Wilson Sonsini Goodrich & Rosati advised SpyGlass Pharma on the transaction.
Client Highlights
9.23.26
Firm Advises Ayble Health on $16 Million Series A
On September 16, 2026, Ayble Health, the nation's leading AI-enabled virtual multidisciplinary GI clinic, announced the close of a $16 million oversubscribed Series A round led by Neon, with participation from Unum Ventures, Upfront Ventures, M13, Cleveland Clinic Ventures, DigiTx, Accomplice, and several individual strategic investors. The round brings Ayble's total capital raised to over $27 million. Wilson Sonsini Goodrich & Rosati advised Ayble on the transaction.
Client Advisories
9.22.26
Evolving Expectations for AI in Mental Health
Artificial intelligence (AI)-enabled mental health products are becoming more ubiquitous with many individuals turning to chatbots, digital companions, coaching tools, and other AI systems for mental health support. They are also attracting increased attention from regulators, policymakers, and courts. As discussed in our previous client alert, Legal Framework for AI in Mental Healthcare, these products already fall within a patchwork of federal and state regulatory frameworks. Recent developments suggest government scrutiny of the sector is likely to continue increasing, including recent actions by agencies, state laws, and emerging litigation. For companies developing AI-enabled mental health products, key considerations may include medical device regulation, emerging state AI laws, Federal Trade Commission (FTC) oversight of health-related claims, privacy, transparency and health data use, and potential liability theories, including the unauthorized practice of medicine or psychology.
Client Highlights
9.01.26
Firm Advises PMV Pharmaceuticals on Oversubscribed $50 Million Public Offering
On August 31, 2026, PMV Pharmaceuticals, a precision oncology company pioneering the discovery and development of small molecule therapies targeting p53, announced the pricing of an underwritten public offering consisting of 22,055,000 shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase an aggregate of up to 19,900,000 shares of its common stock, as well as accompanying warrants to purchase an aggregate of 41,955,000 shares of common stock. The combined public offering price of each share of common stock and accompanying warrant is $1.21. The gross proceeds from the offering, before deducting underwriting discounts, commissions, offering expenses, and any exercise of the warrants, are expected to be approximately $50.8 million. Wilson Sonsini Goodrich & Rosati advised PMV Pharma on the transaction.
Client Highlights
7.27.26
Firm Advises Forte Biosciences on $2.2 Billion Acquisition by argenx
On July 27, 2026, argenx, a global immunology innovation company, and Forte Biosciences, a clinical-stage biopharmaceutical company, announced that they have entered into a definitive agreement under which argenx will acquire Forte Biosciences for $77.00 per share in cash, representing a total equity value of approximately $2.2 billion. FB102, Forte Biosciences’ lead program, expands argenx’s portfolio of differentiated immunology medicines, adding a first-in-class anti-CD122 antibody with clinical proof-of-concept in vitiligo and celiac disease and potential to address multiple autoimmune diseases. Wilson Sonsini Goodrich & Rosati advised Forte Biosciences on the transaction.
Client Highlights
6.30.26
Wilson Sonsini Advises Cognite, Major Shareholders on $3.1 Billion Sale to Schneider Electric
On June 30, 2026, Aker ASA (Aker) and the other shareholders of Cognite announced that they have entered into an agreement to sell 100 percent of the shares in Cognite Holding B.V. (Cognite) to Schneider Electric based on an enterprise value of US$3.1 billion. Wilson Sonsini Goodrich & Rosati’s cross-border tech M&A team advised Cognite and its major shareholders, including Aker, TCV, and Accel, on the transaction.
Client Highlights
6.24.26
Firm Advises Underwriters on Legend Biotech’s Public Offering
On June 17, 2026, Legend Biotech Corporation, a global leader in cell therapy, announced the pricing of an underwritten public offering of 7,700,000 American Depositary Shares (ADSs), each representing two ordinary shares of the company, at a public offering price of $29.35 per ADS. In addition, Legend Biotech has granted the underwriters a 30-day option to purchase up to an additional 1,155,000 ADSs at the public offering price, less underwriting discounts and commissions. The gross proceeds to Legend Biotech from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Legend Biotech, were approximately $226 million, excluding any proceeds from the exercise of the underwriters’ option to purchase additional ADSs. Wilson Sonsini Goodrich & Rosati advised the underwriters 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
6.16.26
Firm Advises 4E Therapeutics on Acquisition by Eli Lilly
On June 16, 2026, 4E Therapeutics, an Austin-based neuroscience company developing next-generation treatments for chronic pain, announced that it has been acquired by Eli Lilly and Company. Wilson Sonsini Goodrich & Rosati advised 4E Therapeutics on the transaction.
News Articles
6.05.26
Wilson Sonsini Attorneys Named to Lawdragon’s 2026 List of Next-Generation Lawyers
Ten Wilson Sonsini attorneys have been recognized in the 2026 edition of Lawdragon 500 X – The Next Generation. Individuals listed in the guide are “the future of the law” and are recognized for their accomplishments in their career thus far.