Shearman & Sterling represented Ultragenyx Pharmaceutical in purchasing 600,000 additional shares of common stock of Arcturus Therapeutics at $16.00 per share consistent with the Equity Purchase Agreement between the two companies.
After completion of the new equity purchase, Ultragenyx owns 3,000,000 shares, or 14.6%, of Arcturus outstanding common stock and will continue to be its largest shareholder.
Proceeds from the equity purchase will support Arcturus’s clinical programs, including the efforts to move its COVID-19 vaccine candidate into clinical testing this summer.
Based in Novato, California, Ultragenyx is a biopharmaceutical company providing patience with treatments of serious rare and ultra-rare genetic diseases. The company has a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment.
Founded in 2013, Arcturus is a clinical-stage mRNA medicines and vaccines company with enabling technologies based in San Diego, California.
Shearman & Sterling represented Ultragenyx Pharmaceutical with Robert Masella (Picture), J. Russel Denton, and Robert D. Bucella.
Law Firms: Shearman & Sterling;
Clients: Ultragenyx Pharmaceutical Inc.;