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12.03.24
Wilson Sonsini Advises 6 Dimensions and Its Portfolio VFLO Medical on Joint Venture with Inari Medical in Greater China
On December 2, 2024, Inari Medical, Inc. (Inari), a medical device company, announced it has entered into a joint venture with 6 Dimensions Capital (6 Dimensions) and its successor fund 120 Capital, and VFLO Medical (VFLO), a medical device platform incubated by 6 Dimensions and 120 Capital, to provide access to Inari’s innovative technology for patients with significant unmet needs in Greater China. On December 3, 2024, VFLO Medical also announced the strategic cooperation with Inari as well as its $80 million Series B financing with participation from 6 Dimensions, 120 Capital, and certain other investors.
Bylined Articles
4.22.24
The Blake Brief: A Hitchhiker’s Guide to Patent Law in Outer Space
SatMagazine’s latest Blake Brief article, titled "A Hitchhiker’s Guide to Patent Law in Outer Space" and authored by Curt Blake, John Wehrli, Peter Bratton, Magnus Gan, James Dunlop, and Matthew Fleming, discusses the value of conducting pharmaceutical research and development in space. The article specifically examines Merck's development of "space crystals" for its blockbuster Keytruda antibody drug and suggests that future commercial space treaties should be flexible to navigate the questions and complexities around patenting inventions developed in space.
Client Highlights
3.21.24
Wilson Sonsini Advises LENZ Therapeutics on Completed Merger with Graphite Bio
On March 21, 2024, LENZ Therapeutics, Inc., a late clinical-stage biopharmaceutical company focused on developing the first aceclidine-based eye drop that has been shown to improve near vision in people with presbyopia, announced the completion of its previously announced merger with Graphite Bio, Inc. The new combined company will operate under the name LENZ Therapeutics, Inc. and will commence trading on Nasdaq under the ticker symbol “LENZ” on March 22, 2024. Wilson Sonsini Goodrich & Rosati advised LENZ Therapeutics on the transaction.
Client Highlights
11.15.23
Wilson Sonsini Represents LENZ Therapeutics in Merger with Graphite Bio
On November 15, 2023, LENZ Therapeutics, a late-stage biopharmaceutical company focused on developing and commercializing innovative therapies to improve vision, and Graphite Bio, Inc. announced that they have entered into a definitive merger agreement to combine the companies in an all-stock transaction. The lead programs of the combined company will address presbyopia, the inevitable loss of near vision that impacts the daily lives of nearly all people over the age of 45. The combined company is expected to trade on Nasdaq under the ticker symbol “LENZ.” Wilson Sonsini Goodrich & Rosati is representing LENZ Therapeutics in the transaction.
Client Highlights
9.07.23
Wilson Sonsini Advises Idorsia on Reacquisition of Global Rights to Aprocitentan
On September 6, 2023, Idorsia Ltd announced that it has entered into an agreement with Janssen Biotech Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the return of worldwide rights for aprocitentan to Idorsia. Aprocitentan is an oral, dual endothelin receptor antagonist currently under review with health authorities for the treatment of patients with resistant hypertension. In return, Idorsia is committed to pay up to 306 million Swiss francs, or about $343 million, subject to marketing application approval by the U.S. FDA and Europe’s EMA. Wilson Sonsini Goodrich & Rosati represented Idorsia in the transaction.
Client Highlights
11.08.22
Wilson Sonsini Advises Alto Neuroscience on $35 Million Series B
On October 25, 2022, Alto Neuroscience announced the closing of a $35 million Series B financing led by Lightswitch Capital and partners of Alkeon Capital, with participation from other new investors including Sobrato Capital, Novartis Pharma AG, Valor Equity Partners, Korify Capital, Vine Ventures, and Gaingels. The financing also included participation from existing investors Apeiron Group, WhatIf Ventures, Windham Venture Partners, and others. This round brings Alto’s total funding to $75 million to date. Alto will use the proceeds from the financing to advance lead candidates into Phase 2b studies in major depressive disorder in addition to continued development on other programs within its clinical-stage precision psychiatry pipeline. In addition to driving Alto’s ongoing and planned clinical trials, proceeds from the financing will be used to progress the company’s artificial intelligence-enabled brain biomarker platform and launch new clinical trials in areas of high unmet medical need. Alto will report Phase 2a data in early 2023 and further anticipates Phase 2b data readouts by early 2024.
Client Highlights
9.07.22
Wilson Sonsini Advises Metacrine on Acquisition by Equillium
On September 6, 2022, Equillium, Inc. and Metacrine Inc. announced that the two companies have entered into a definitive merger agreement pursuant to which Equillium will acquire Metacrine in an all-stock transaction. The transaction is anticipated to add $33 million in cash to Equillium’s balance sheet at closing, which is expected to extend the company’s cash runway into 2024. Wilson Sonsini Goodrich & Rosati is advising Metacrine on the transaction.
Through the acquisition, Equillium adds Metacrine’s farnesoid X receptor (FXR) platform, including lead molecule MET642, an orally delivered FXR agonist that is a potential first-in-class, non-immunosuppressive treatment for inflammatory bowel disease (IBD), including ulcerative colitis (UC) and Crohn’s disease. The acquisition is anticipated to close late 2022 pending approval from both Equillium and Metacrine shareholders, Metacrine having minimum net cash of $23 million, and other customary closing conditions.
Through the acquisition, Equillium adds Metacrine’s farnesoid X receptor (FXR) platform, including lead molecule MET642, an orally delivered FXR agonist that is a potential first-in-class, non-immunosuppressive treatment for inflammatory bowel disease (IBD), including ulcerative colitis (UC) and Crohn’s disease. The acquisition is anticipated to close late 2022 pending approval from both Equillium and Metacrine shareholders, Metacrine having minimum net cash of $23 million, and other customary closing conditions.
Client Highlights
4.14.22
Wilson Sonsini Advises Sierra Oncology on $1.9 Billion Acquisition by GSK
On April 13, 2022, GlaxoSmithKline plc (GSK) and Sierra Oncology, Inc. announced that they have entered into an agreement under which GSK will acquire Sierra Oncology, a late-stage biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer, for $55 per share of common stock in cash, representing an approximate total equity value of $1.9 billion. The per-share price represents a premium of approximately 39 percent to Sierra Oncology’s closing stock price on April 12, 2022, and a premium of approximately 63 percent to Sierra Oncology’s VWAP over the last 30 trading days. Wilson Sonsini Goodrich & Rosati advised Sierra Oncology on the transaction.
Sierra Oncology’s differentiated momelotinib has the potential to address the critical unmet medical needs of myelofibrosis patients with anaemia. In January 2022, Sierra Oncology announced positive topline results from the MOMENTUM phase III trial. The study met all its primary and key secondary endpoints, demonstrating that momelotinib achieved a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anemia. Sierra Oncology is anticipating U.S. regulatory submission in Q2 of this year and EU submission in the second half of 2022.
Wilson Sonsini has also advised Sierra Oncology on a number of recent financing transactions, including public warrant and equity issuances.
Sierra Oncology’s differentiated momelotinib has the potential to address the critical unmet medical needs of myelofibrosis patients with anaemia. In January 2022, Sierra Oncology announced positive topline results from the MOMENTUM phase III trial. The study met all its primary and key secondary endpoints, demonstrating that momelotinib achieved a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anemia. Sierra Oncology is anticipating U.S. regulatory submission in Q2 of this year and EU submission in the second half of 2022.
Wilson Sonsini has also advised Sierra Oncology on a number of recent financing transactions, including public warrant and equity issuances.