SVB Leerink acted as financial advisor to Zogenix. Latham & Watkins is acting as legal advisor to Zogenix, and Fenwick & West is acting as legal advisor to Modis.
Zogenix, Inc. (NASDAQ: ZGNX) executed the acquisition of Modis Therapeutics, Inc., a privately held biopharmaceutical company focused on developing novel therapies for rare genetic diseases with high unmet medical need.
Zogenix, Inc. is a global pharmaceutical company developing rare disease therapies.
Under the terms of the transaction, Modis will receive an upfront payment of $250 million, comprised of $175 million in cash and $75 million in Zogenix common stock. Modis is also eligible to receive additional milestone payments consisting of $100 million upon receipt of U.S. Food and Drug Administration approval of its lead product candidate MT1621 in the U.S. and $50 million upon European Medicines Agency approval in Europe. Zogenix will also pay a 5% royalty on any future net sales of MT1621.
Fenwick advised Modis with a team led by corporate partners Effie Toshav (Picture) and David Michaels, counsel Kee Bong Kim and associates Khiree Smith, Adam Derry and Jim Bishop; executive compensation and employee benefits partner Matthew Cantor and associate Sarah Ghulamhussain; intellectual property and technology transactions partner Stefano Quintini and associates Sang Kwon, Claire O’Callaghan and Sophia Chen; and tax partner William Skinner.
Involved fees earner: James Bishop – Fenwick & West LLP; Matthew Cantor – Fenwick & West LLP; Sophia Chen – Fenwick & West LLP; Adam Derry – Fenwick & West LLP; Sarah Ghulamhussain – Fenwick & West LLP; Kee Bong Kim – Fenwick & West LLP; Sang Kwon – Fenwick & West LLP; David Michaels – Fenwick & West LLP; Claire O’Callaghan – Fenwick & West LLP; Stefano Quintini – Fenwick & West LLP; William Skinner – Fenwick & West LLP; Khiree Smith – Fenwick & West LLP; Effie Toshav – Fenwick & West LLP;
Law Firms: Fenwick & West LLP;
Clients: Modis Therapeutics;