TheLife Sciencesteam advised Transcend Therapeutics, Inc. ("Transcend") on intellectual property aspects on entering into an agreement with Otsuka Pharmaceutical Co., Ltd. ("Otsuka"), under which Otsuka, through its wholly owned subsidiary Otsuka America, Inc., will fully acquire Transcend. Under the terms of the agreement, Otsuka will pay $700 million to Transcend shareholders upon closing of the acquisition, and up to $525 million in additional contingent consideration based on future sales milestones related to assets in development, for a total potential consideration of $1.225 billion. By welcoming Transcend into the Otsuka group, the company aims to strengthen its position as a global leader in the psychiatric and neurological fields and to accelerate the development of next‑generation treatments, including those for PTSD, with the goal to expand future treatment options.
Transcend, founded in 2021 and based in New York City, is a clinical-stage, neuroscience-focused company developing rapid-acting treatments for neuropsychiatric diseases. The company's mission is to develop new drugs for the millions of people for whom current psychiatric medicines have not worked.
The Goodwin team was led byCarl Morales,Miho Kaneko,Michael Witten, andKatherine Beck.
For more information on the deal, please read thepress release.