The Life Sciences team advised Versanis Bio in its definitive agreement to be acquired by Eli Lilly and Company (NYSE: LLY). Under the terms of the agreement, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain development and sales milestones. The transaction is subject to customary closing conditions.
Founded in 2021 by Aditum Bio, Versanis is a privately held, clinical-stage biopharmaceutical company bringing transformational treatments to people living with cardiometabolic disease. The company’s lead asset, bimagrumab, is being advanced in the BELIEVE Phase 2b study as a novel treatment to help adults achieve and maintain both fat loss and a healthy body composition, with additional indications to follow.
The Goodwin team was led by Mitchell Bloom, Robert Masella, Noelle Dubiansky and Wei Xu and included corporate assistance from Katherine Hand, Ana Carolina Zattar and Samantha Jandl, tax assistance from Daniel Karelitz, Cecily Xi and Nicole Brock, antitrust assistance from Arman Oruc, John Goheen, Simone Waterbury and Charlie Stewart, executive compensation and benefits assistance from Sarah Bock, Andre Amorim and Ben Kurrass, labor and employment assistance from Jennifer Fay and Caroline Galiatsos, healthcare regulatory assistance from Matt Wetzel and Anne Brendel, FDA assistance from Susan Lee and Elizabeth Mulkey, debt finance assistance from Kris Ring and Anne Bandes, intellectual property assistance from Xiaowei Wu, environmental assistance from Nate Brodeur and insurance assistance from Brian Mukherjee.
For additional details on the agreement, please read the press release.