Eli Lilly’s $100 Million Investment in Dicerna Pharmaceuticals, Inc.


Sidley represented Dicerna Pharmaceuticals Inc. (Nasdaq:DRNA) as co-counsel in connection with Dicerna’s sale and issuance of 5,414,185 shares of its common stock to Eli Lilly and Company. The shares were issued and sold in a private placement for an aggregate purchase price of approximately $100 million, as part of a global licensing and research collaboration between the two companies.

Dicerna Pharmaceuticals, Inc. provides biopharmaceutical products. The company, led by Douglas M Fambrough III, John B Green and James B Weissman, in 2017 recorded $2.3 million revenues.

The transaction closed on December 19, 2018, following clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

The Sidley team was led by partner, Sam Zucker (Picture) (Palo Alto) with support from associates Nick DeAngelis (Palo Alto) and Courtney Sladic (Palo Alto). Senior counsel, Marc Raven (Chicago) advised on the antitrust aspects of the transaction.

Involved fees earner: Nick DeAngelis – Sidley Austin LLP; Marc Raven – Sidley Austin LLP; Courtney Sladic – Sidley Austin LLP; Sam Zucker – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Dicerna Pharmaceuticals, Inc. ;

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Author: Ambrogio Visconti