Skadden, Arps, Slate, Meagher & Flom has advised Japan's Otsuka Pharmaceutical on its $1.1 billion agreement to acquire Boston-based Jnana Therapeutics, which was represented by Latham & Watkins.
Large Japanese drugmakers have been on an overseas acquisition spree of late as they look to replenish their drug portfolios, with Otsuka joining the likes of Ono Pharma, Takeda Pharmaceutical, and Astellas Pharma.
According to Reuters, Otsuka will pay $800 million to Jnana shareholders along with up to $325 million in development and regulatory milestones. It added that Jnana is a clinical-stage biotechnology company with drug candidates for rare diseases and immune disorders.
The Skadden team was led by partners Mitsuhiro Kamiya and Mike Mies, and included partners Ken Kumayama, Joe Yaffe, David Schwartz, Nate Giesselman, Michael Leiter, Brian Egan, Avia Dunn, Nesa Amamoo, and Peter Luneau.
The Latham team was led by partners Leah Sauter and Peter Handrinos, with support from partners Matthew Conway, Katharine Moir, Aaron Gardner, Heather Deixler, Elizabeth Richards, and Patrick English.
