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4.17.26
Firm Advises Neurona Therapeutics on Acquisition by UCB
On April 17, 2026, UCB, a global biopharmaceutical company, announced that it has entered into a definitive agreement under which UCB would acquire Neurona Therapeutics, including lead asset NRTX-1001, adding to UCB’s epilepsy portfolio. Neurona Therapeutics is a clinical-stage biotherapeutics company focused on advancing regenerative cell therapies for epilepsies and other disorders of the nervous system. Under the terms of the agreement, UCB will pay $650 million upfront and up to $500 million in potential future milestone payments, subject to certain closing conditions. Wilson Sonsini Goodrich & Rosati advised Neurona on the transaction.
Alerts
4.06.26
Double Dose of New Tariffs: President Prescribes New Pharmaceuticals and Metals Tariffs
On April 2, 2026, President Trump issued two presidential proclamations: a proclamation imposing Section 232 tariffs on certain branded pharmaceutical products and associated active pharmaceutical ingredients (APIs) (the Pharmaceuticals Proclamation), and a proclamation modifying the Section 232 steel, aluminum, and copper tariffs (the Metals Proclamation).
Client Highlights
2.03.26
Wilson Sonsini Advises Remote on Acquisition of Atlas
On January 20, 2026, Remote, the leading global employment operating system, announced it has completed its acquisition of Atlas, an AI-native expense management solution for global teams. The acquisition provides the foundation for a new category of products from Remote to enable customers to offer more holistic and modern employee experiences to their teams.
Alerts
1.22.26
A Mixed Bag of Chips: Significant New Import and Export Changes for Advanced Semiconductors
The U.S. Department of Commerce issued a rule newly permitting certain advanced, H200/MI325X-grade computing chips classified under Export Control Classification Number (ECCN) 3A090 to be eligible for export to China, subject to a case-by-case licensing policy instead of a policy of denial.
Client Highlights
1.14.26
Wilson Sonsini Advises Polygon Labs on Acquisitions of Coinme and Sequence
On January 13, 2026, Polygon Labs announced definitive agreements to acquire Coinme and Sequence for more than $250 million to expand into regulated stablecoin payments in the U.S. Both companies will play foundational roles in building Polygon's forthcoming Open Money Stack, which aims to facilitate instant and reliable money movement. The Polygon Open Money Stack includes physical cash and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents. Wilson Sonsini Goodrich & Rosati is advising Polygon on both transactions.
Client Highlights
1.13.26
Wilson Sonsini Advises Proxima on $80 Million Seed Financing
On January 13, 2026, Proxima (formerly VantAI), the AI-native biotech company pioneering the next generation of AI-driven drug discovery for proximity therapeutics, announced an oversubscribed $80 million Seed financing.
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.
Alerts
12.19.25
The COINS Act: Outbound Investment Security Re-Programmed
On Thursday, December 18, the President signed the National Defense Authorization Act (NDAA) for Fiscal Year 2026. The NDAA contains several new national security regulatory controls, including a new Title LXXXV entitled the Comprehensive Outbound Investment National Security Act of 2025 (COINS Act). The COINS Act codifies a screening system for outbound investments by U.S. persons in certain technology transactions with target entities that have connections to countries of concern, including but not limited to, the People’s Republic of China (PRC). For U.S. investors familiar with the current outbound investment rules at 31 C.F.R. Part 850 (the OISP), previously discussed here, the COINS Act is a continuation of U.S. efforts to prevent the exploitation of U.S. capital by countries of concern to undermine national security and foreign policy interests.
Alerts
12.19.25
The New BIOSECURE Act: An Improved New Regulatory Regime with the Devil Still in the Details
On Thursday, December 18, the President signed the National Defense Authorization Act (NDAA) for Fiscal Year 2026. The NDAA contains several new national security regulatory controls, including a new Section 851 “Prohibition on contracting with certain biotechnology providers” (the Act). The prohibition in the Act is a revised version of a bill introduced almost two years ago intended to discourage the U.S. government and U.S. biotechnology companies more broadly from relying on certain government-designated biotechnology companies associated with particular countries of concern, the BIOSECURE Act.
Client Highlights
12.05.25
Wilson Sonsini Advises Chronosphere on $3.35 Billion Acquisition by Palo Alto Networks
On November 19, 2025, global cybersecurity leader Palo Alto Networks announced that it has entered into a definitive agreement to acquire Chronosphere, a next-generation observability platform built to scale for the AI era, for total consideration of $3.35 billion. Wilson Sonsini Goodrich & Rosati advised Chronosphere on the transaction.
The combination of Chronosphere and Palo Alto Networks’ AgentiX platform will deliver real-time, agentic remediation for the world’s leading AI-native companies and strengthen Palo Alto Networks' ability to help organizations navigate a world where modern applications and AI workloads demand a unified data and security foundation. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in Palo Alto Networks’ second half of fiscal year 2026.
The Wilson Sonsini team that advised Chronosphere on the acquisition was led by Damien Weiss, Todd Cleary, Jack Hamilton, and Rob Broderick, and also included:
The combination of Chronosphere and Palo Alto Networks’ AgentiX platform will deliver real-time, agentic remediation for the world’s leading AI-native companies and strengthen Palo Alto Networks' ability to help organizations navigate a world where modern applications and AI workloads demand a unified data and security foundation. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in Palo Alto Networks’ second half of fiscal year 2026.
The Wilson Sonsini team that advised Chronosphere on the acquisition was led by Damien Weiss, Todd Cleary, Jack Hamilton, and Rob Broderick, and also included:
Alerts
11.11.25
BIS Formally Suspends New “Affiliates Rule” for One Year
On November 11, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) formally published a one year suspension of the “Affiliates Rule,” previously announced by Treasury Secretary Scott Bessent, in the Federal Register. The suspension is being imposed in two phases; the first phase temporarily suspends the Affiliates Rule and is effective immediately through November 9, 2026. The second phase reimposes the Affiliates Rule and will be effective starting November 10, 2026.
Alerts
10.30.25
Treasury Secretary Bessent Announces Suspension of 50 Percent “Affiliate” Rule for Entity List, Military End-Users List
During a televised interview today, Treasury Secretary Scott Bessent announced that the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) will suspend implementation of the so-called “Affiliates Rule,” which was adopted by BIS as an interim final rule last month. Under this new Affiliates Rule, BIS expanded the scope of the Entity List, Military End User (MEU) List, and Section 744.8 restrictions to also apply to non-U.S. entities owned, directly or indirectly, and individually or in the aggregate, 50 percent or more by another party or parties enumerated on an applicable list.