On September 7, 2022, Good Therapeutics, a privately held company founded to create a new class of conditionally active therapeutics, announced it has entered into a definitive merger agreement to be acquired by Roche. With this acquisition, Roche will gain rights to Good Therapeutics’ innovative, conditionally active, PD-1-regulated IL-2 program and an exclusive right to the platform technology for the development of PD-1-regulated IL-2 receptor agonist therapeutics. Wilson Sonsini Goodrich & Rosati advised Good Therapeutics on IP matters related to the transaction.

Under the terms of the merger agreement, Roche will make an upfront cash payment of $250 million for the shares on a fully diluted basis and additional payments based on the achievement of predetermined development, regulatory, and commercial milestones. The transaction is conditioned upon clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the third quarter of 2022. Following the close of the Roche acquisition, the Good Therapeutics team plans to apply the technology for the design of conditionally active therapeutics to other targets in immuno-oncology and beyond in a new company, Bonum Therapeutics. Bonum Therapeutics will also be represented by Wilson Sonsini.

The Wilson Sonsini team that advised Good Therapeutics on IP matters included Vern Norviel, Rona Lamiquiz, Sherrie Holdman, Stephen Olshemski, and Madeline Hess.

For more information, please see Good Therapeutics' press release.