WilmerHale LLP acted ad legal advisor to Alkermes plc. Goodwin Procter LLP represented Rodin Therapeutics, Inc.
Alkermes plc announced the completion of its previously announced acquisition of Rodin Therapeutics, Inc., a privately held biopharmaceutical company focused on developing novel, small molecule therapeutics for synaptopathies.
Under the terms of the definitive agreement, and subject to the conditions and adjustments set forth therein, Rodin’s security holders will receive an upfront cash payment of $100 million upon the closing of the transaction and will be eligible to receive future payments of up to $850 millionupon achievement by Rodin’s development candidates of certain specified clinical and regulatory milestones, and attainment of certain sales thresholds.
The upfront cash payment is expected to be funded by Alkermes’ available cash and accounted for as an asset acquisition, with substantially all of the upfront payment recorded as R&D expense. Alkermes expects to complete the transaction by the end of November 2019.
Alkermes plc is a fully integrated, global biopharmaceutical company developing innovative medicines for the treatment of central nervous system (CNS) diseases and oncology.
Rodin Therapeutics, Inc. is a biopharmaceutical company discovering and developing first-in-class therapeutics by applying novel chemical strategies to target protein complexes that selectively modulate gene expression.
The WilmerHale team was led by Stuart Falber (Picture), Joe Conahan and Mark Nylen and included Julie Hogan Rodgers, Scott Kilgore, Steve Barrett, Bruce Manheim, Barry Hurewitz, Hartmut Schneider, Paul Jakubowski, Ben Unger, Ben Kelsey, Lauren Ige, Meghan Fay and Meghan Muncey.
Involved fees earner: Steven Barrett – WilmerHale; Joseph Conahan – WilmerHale; Stuart Falber – WilmerHale; Meghan Fay – WilmerHale; Julie Hogan Rodgers – WilmerHale; Barry Hurewitz – WilmerHale; Lauren Ige – WilmerHale; Paul Jakubowski – WilmerHale; Benjamin Kelsey – WilmerHale; Scott Kilgore – WilmerHale; Bruce Manheim Jr – WilmerHale; Meghan Muncey – WilmerHale; Mark Nylen – WilmerHale; Hartmut Schneider – WilmerHale; Benjamin Unger – WilmerHale;
Law Firms: WilmerHale;
Clients: Alkermes PLC;