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3.27.26
Wilson Sonsini Advises Excellergy on $2 Billion Acquisition by Novartis
On March 27, 2026, Excellergy, a biotechnology company developing a novel class of allergy therapeutics, announced it will be acquired by Novartis in a transaction with a total potential value of up to $2 billion in upfront and milestone payments. The acquisition brings together Excellergy's novel trifunctional ECRIs with the development expertise of Novartis. Wilson Sonsini Goodrich & Rosati advised Excellergy on the transaction.
Client Highlights
2.23.26
Firm Advises Arcellx on $7.8 Billion Acquisition by Gilead
On February 23, 2026, Gilead Sciences announced that it has entered into a definitive agreement to acquire Arcellx, a biotechnology company focused on delivering a new class of innovative immunotherapies for patients with cancer and other incurable diseases, for $115 per share in cash at closing and one contingent value right of $5 per share, which represents an implied equity value of $7.8 billion payable at closing. Wilson Sonsini Goodrich & Rosati advised Arcellx on the transaction.
Client Highlights
12.15.25
Wilson Sonsini Advises Excellergy on $70 Million Series A
On October 13, 2025, Excellergy, a biotechnology company developing a new class of allergy therapeutics, announced its launch with a $70 million Series A financing to advance its pipeline of first-in-class allergic Effector Cell Response Inhibitors (ECRIs). Excellergy is backed by leading healthcare investors, with Samsara BioCapital serving as the Series A lead with co-investments from Red Tree Venture Capital and Decheng Capital. Wilson Sonsini Goodrich & Rosati advised Excellergy on the transaction.
Client Highlights
12.08.25
Wilson Sonsini Advises Foresight Diagnostics on Acquisition by Natera
On December 5, 2025, Natera, Inc., a global leader in cell-free DNA and precision medicine, and Foresight Diagnostics, a leader in ultrasensitive molecular residual disease (MRD) detection, announced that Natera has completed its acquisition of Foresight in an all-stock transaction consisting of a $275 million upfront payment with an additional $175 million in earnouts tied to the achievement of revenue- and reimbursement-based milestones. Wilson Sonsini Goodrich & Rosati advised Foresight on the transaction.
The transaction combines Natera’s leading commercial and operational infrastructure for the delivery of personalized MRD testing with Foresight’s unique phased variant technology and leadership in lymphoma. It builds on Natera’s broad intellectual property portfolio for tumor-informed and personalized MRD products including in phased variants, and promises to accelerate MRD adoption in lymphoma and other solid tumor types.
The transaction combines Natera’s leading commercial and operational infrastructure for the delivery of personalized MRD testing with Foresight’s unique phased variant technology and leadership in lymphoma. It builds on Natera’s broad intellectual property portfolio for tumor-informed and personalized MRD products including in phased variants, and promises to accelerate MRD adoption in lymphoma and other solid tumor types.
Client Highlights
9.04.25
Wilson Sonsini Advises Foresight on Roche Settlement and Licensing Agreement
On August 29, 2025, Foresight Diagnostics, a privately held cancer diagnostics company and CLIA-registered laboratory, announced that it has entered into a limited licensing agreement with Roche Molecular Systems and Roche Sequencing Systems (together, Roche) involving Foresight’s patented PhasED-Seq™ technology. The agreement resolves litigation between the parties, with all claims against Foresight, its founders, and Stanford University dismissed with prejudice. Wilson Sonsini Goodrich & Rosati advised Foresight on the settlement and licensing agreement.
Client Highlights
11.15.23
Firm Advises Arcellx on Expansion of Strategic Partnership with Kite
On November 15, 2023, Arcellx, Inc. and Kite, a Gilead company, announced that they have expanded their existing collaboration that was originally announced in December 2022. Kite has exercised its option to negotiate a license for Arcellx's ARC-SparX program, ACLX-001, in multiple myeloma, which is comprised of ARC-T cells and SparX proteins that target BCMA. The companies have also expanded the scope of the collaboration for Arcellx's CART-ddBCMA to include lymphomas. Wilson Sonsini Goodrich & Rosati is advising Arcellx on the transaction.
Upon closing, Arcellx will receive a $200 million equity investment to purchase 3,242,542 shares of its common stock. Following this investment, Gilead's estimated ownership will be 13 percent. Arcellx will also receive an upfront non-dilutive cash payment of $85 million at closing and will be eligible for potential milestone payments, including the advancement of lymphoma and the license for ARC-SparX, as well as additional milestones, to offset prespecified development costs over a limited period of time. The transaction is expected to close around year-end 2023.
The Wilson Sonsini team advising Arcellx on the transaction includes:
Upon closing, Arcellx will receive a $200 million equity investment to purchase 3,242,542 shares of its common stock. Following this investment, Gilead's estimated ownership will be 13 percent. Arcellx will also receive an upfront non-dilutive cash payment of $85 million at closing and will be eligible for potential milestone payments, including the advancement of lymphoma and the license for ARC-SparX, as well as additional milestones, to offset prespecified development costs over a limited period of time. The transaction is expected to close around year-end 2023.
The Wilson Sonsini team advising Arcellx on the transaction includes:
Client Highlights
9.25.23
Wilson Sonsini Advises Applied Molecular Transport Inc. in its Sale to Cyclo Therapeutics
On September 21, 2023, Cyclo Therapeutics, Inc., a clinical-stage biotechnology company focused on developing transformative therapies for rare and neurological diseases with limited treatment options, and Applied Molecular Transport Inc. (AMT), a biopharmaceutical company, announced that the companies have entered into a definitive agreement pursuant to which AMT will merge with Cyclo Therapeutics in an all-stock transaction. Wilson Sonsini Goodrich and Rosati is advising AMT on the transaction.
Client Highlights
4.28.23
Wilson Sonsini Advises Foresight Diagnostics on $58.75 Million Series B
On April 27, 2023, Foresight Diagnostics, Inc, a leading developer of ultrasensitive cancer detection tests, announced the close of an oversubscribed Series B financing round of $58.75 million. The financing was led by Foresite Capital, with participation by Civilization Ventures, Bluebird Ventures, Pear Ventures, Agent Capital, Stanford University, and The University of Colorado Healthcare Innovation Fund. Wilson Sonsini Goodrich & Rosati advised Foresight on corporate, IP, licensing, and business advisory matters related to the transaction.
Client Highlights
12.08.21
Wilson Sonsini Advises EVERY on Oversubscribed $175 Million Series C
On December 7, 2021, The EVERY Company, the leading precision fermentation platform accelerating a global transition to animal-free protein, announced it has closed $175 million in Series C financing. The round was co-led by new investor, McWin, and existing investor, Rage Capital. Other new and existing investors joined the round including Temasek, Grosvenor’s Wheatsheaf Group, and TO Ventures. Prosus Ventures also contributed to the funding, marking its first investment in synthetic biology.
Client Highlights
9.30.21
Firm Advises Hexagon Bio on IP Matters Related to $61 Million Funding
On September 22, 2021, Hexagon Bio, a biopharmaceutical company pioneering the discovery of medicines encoded in the global metagenome, announced that it has raised $61 million to fuel the continued development of its platform to design and develop new therapeutics mined from microbial genomes. Nextech Invest led the financing, with participation from new investors SoftBank Vision Fund 2* and Casdin Capital, as well as existing investors The Column Group, 8VC, and Two Sigma Ventures. Wilson Sonsini Goodrich & Rosati represented Hexagon Bio in IP matters related to the transaction.
“Microbial genomes are an incredibly rich source of diverse, potent and drug-like compounds that, as a result of millions of years of evolution, provide elegant solutions to human therapeutic targets that have eluded traditional screening approaches. To date, the discovery of these small molecules has been limited to a tiny fraction of the earth’s microbes and hampered by a lack of mechanistic understanding of the intended drug targets,” said Maureen Hillenmeyer, Ph.D., Hexagon’s co-founder and CEO. “Hexagon exists to overcome these challenges and unearth new medicines to combat human disease. We are excited to embark on the next phase of growth to discover and develop unique and potent therapeutic compounds for a broad spectrum of intractable diseases.”
“Microbial genomes are an incredibly rich source of diverse, potent and drug-like compounds that, as a result of millions of years of evolution, provide elegant solutions to human therapeutic targets that have eluded traditional screening approaches. To date, the discovery of these small molecules has been limited to a tiny fraction of the earth’s microbes and hampered by a lack of mechanistic understanding of the intended drug targets,” said Maureen Hillenmeyer, Ph.D., Hexagon’s co-founder and CEO. “Hexagon exists to overcome these challenges and unearth new medicines to combat human disease. We are excited to embark on the next phase of growth to discover and develop unique and potent therapeutic compounds for a broad spectrum of intractable diseases.”
Client Highlights
4.01.21
Firm Advises Applied Molecular Transport on $105 Million Public Offering
On March 31, 2021, Applied Molecular Transport (AMT), a clinical-stage biopharmaceutical company leveraging its proprietary technology platform to design and develop a pipeline of novel biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases, announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a public offering price of $42.00 per share. All of the shares of common stock are being offered by AMT. Wilson Sonsini Goodrich & Rosati is advising AMT on the transaction.
AMT has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to AMT from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AMT, are expected to be $105 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on April 6, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team advising AMT on the transaction includes:
AMT has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to AMT from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AMT, are expected to be $105 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on April 6, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team advising AMT on the transaction includes:
Client Highlights
6.09.20
Wilson Sonsini Advises Applied Molecular Transport in $177 Million IPO
On June 9, 2020, Applied Molecular Transport (AMT), a clinical-stage biopharmaceutical company, announced the closing of its initial public offering of 12,650,000 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase up to 1,650,000 additional shares, at a public offering price of $14.00 per share. The aggregate total gross proceeds to AMT from the offering were $177.1 million, before deducting underwriting discounts and commissions and other offering expenses. All of the shares in the offering were offered by AMT. AMT's common stock began trading on the Nasdaq Global Select Market on June 5, 2020, under the ticker symbol “AMTI."