AbSci’s Acquisition of Totient

Wilson Sonsini Goodrich & Rosati advised Totient on the deal.

AbSci, the synthetic biology company unlocking the potential of proteins as next-generation therapeutics, announced the acquisition of Totient, a discovery company harnessing human immune responses to identify novel antibodies and their therapeutic targets. The acquisition adds antibody and target discovery technology to AbSci’s platform for therapeutic protein design and biomanufacturing optimization. 

As a result of the merger, Totient became a wholly-owned subsidiary of AbSci. AbSci paid the former stockholders and noteholders of Totient upfront cash consideration of $40 million, subject to customary purchase price adjustments, including consideration in exchange for the cancellation of unexercised outstanding options to purchase shares of Totient common stock, whether vested or unvested, and outstanding stock appreciation rights previously granted by Totient. Holders of Totient’s Class A common stock also received an aggregate of 2,212,208 shares of common stock, subject to certain vesting conditions. In addition, Totient’s Class A common stockholders and noteholders are eligible to receive up to an additional $15 million in cash upon the achievement of certain milestones.

The Wilson Sonsini team that represented Totient in the transaction included: Mark Fitzgerald (Picture), John Aguirre, Michelle Wallin, Josephine Aiello LeBeau, David Hoffmeister, Matthew Staples, Gregory Broome, Farah Gerdes, Lou Lieto, James Clessuras, Leah Hengemuhle, Drew Kohlmeier, Priyanka Nawathe, Jessica Bliss, Matthew Gorman, Anne Seymour, Eva Yin, Clark Lin, Daniel Chen, Michael O’Brien, Trent McKenzie, David Sackstein, Shefali Tandon and Payal Vyas.

Involved fees earner: John Aguirre – Wilson Sonsini Goodrich & Rosati; Josephine Aiello LeBeau – Wilson Sonsini Goodrich & Rosati; Jessica Bliss – Wilson Sonsini Goodrich & Rosati; Gregory Broome – Wilson Sonsini Goodrich & Rosati; Daniel Chen – Wilson Sonsini Goodrich & Rosati; James Clessuras – Wilson Sonsini Goodrich & Rosati; Mark Fitzgerald – Wilson Sonsini Goodrich & Rosati; Farah Gerdes – Wilson Sonsini Goodrich & Rosati; Matthew Gorman – Wilson Sonsini Goodrich & Rosati; Leah Hengemuhle – Wilson Sonsini Goodrich & Rosati; David Hoffmeister – Wilson Sonsini Goodrich & Rosati; Drew Kohlmeier – Wilson Sonsini Goodrich & Rosati; Louis Lieto – Wilson Sonsini Goodrich & Rosati; Clark Lin – Wilson Sonsini Goodrich & Rosati; Trent McKenzie – Wilson Sonsini Goodrich & Rosati; Priyanka Nawathe – Wilson Sonsini Goodrich & Rosati; Michael O’Brien – Wilson Sonsini Goodrich & Rosati; David Sackstein – Wilson Sonsini Goodrich & Rosati; Anne Seymour – Wilson Sonsini Goodrich & Rosati; Matthew Staples – Wilson Sonsini Goodrich & Rosati; Shefali Tandon – Wilson Sonsini Goodrich & Rosati; Payal Vyas – Wilson Sonsini Goodrich & Rosati; Michelle Wallin – Wilson Sonsini Goodrich & Rosati; Eva Yin – Wilson Sonsini Goodrich & Rosati;

Law Firms: Wilson Sonsini Goodrich & Rosati;

Clients: Totient ;

Author: Martina Bellini