Goodwin Procter LLP advised ANA Therapeutics on the deal.
ANA Therapeutics announced its sale to NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO).
ANA is a biotechnology company developing ANA-001, a proprietary capsule formulation of niclosamide for coronavirus indications, currently in Phase 2/3 clinical trials as a treatment for COVID-19.
NeuroBo is a clinical-stage biotechnology company focused on developing and commercializing multimodal, disease-modifying therapies for neurodegenerative and cardiometabolic diseases.
Under the terms of the acquisition agreement, ANA became a wholly-owned subsidiary of NeuroBo and ANA equity holders were issued an aggregate of approximately 3.24 million shares of Neurobo common stock, representing 19.7% of NeuroBo’s outstanding shares. ANA shareholders will receive additional payments (in cash and/or NeuroBo common shares) upon the achievement of various development and net sales milestones for ANA-001 and will also receive royalties based on net sales of ANA-001.
The Goodwin team was led by Deepa Rich (Picture), David Johanson, and Yasin Akbari. The team also included Dan Karelitz, John Stern, Grace Wirth, Leslie Nash, Joseph Flynn, Mingshu Liu, Owen Remeika, Ruowen Li, Christina Bouchot, Koray Bulut, Seth Burns, Julie Tibbets, Steve Tjoe, Bryna Shmerling, and Allyson Maur, with assistance from Crescent Moran Chasteen, Steven Feldstein, Jim Mattus, Kara Kuritz, Scott Zilora, Sam Zucker, Wynn Stateman, and Tricia Hojo.
Law Firms: Goodwin Procter;
Clients: ANA Therapeutics;