The Life Sciences team advised Vigil Neuroscience on Sanofi’s (Nasdaq: SNY) $40 million strategic investment in the company at an as-converted price of $7.44 per share of common stock. Sanofi purchased 537,634 of the Company’s Series A non-voting preferred shares, each share of which may be convertible into ten shares of common stock. Vigil will use the proceeds to fund its research and development activities.
In connection with the equity investment, Vigil has granted Sanofi the exclusive right of first negotiation for an exclusive license, grant or transfer of rights to research, develop, manufacture and commercialize the company’s small molecule TREM2 agonist program, including its clinical candidate, VG-3927. VG-3927 is currently being evaluated in a phase 1 clinical study for the potential treatment of Alzheimer’s disease.
Vigil is a clinical-stage biotechnology company focused on developing treatments for both rare and common neurodegenerative diseases by restoring the vigilance of microglia, the sentinel immune cells of the brain. Vigil is utilizing the tools of modern neuroscience drug development across multiple therapeutic modalities in its efforts to develop precision-based therapies to improve the lives of patients and their families.
The Goodwin team was led by Gaby Morales-Rivera, Shannyn Henke, Kingsley Taft, Mac Taggart and Kaitlyn Buffaloe and included Justin Pierce, Maggie Wong, Nathan Needle and invaluable assistance from Jim Matarese, Marianne Sarrazin and Marishka DeToy.
For additional details on the investment, please read the press release.