Law firm Paul Hastings advises Acadia Pharmaceuticals in acquisition of CerSci Therapeutics
SAN DIEGO -- Paul Hastings LLP, a leading global law firm, announced today that the firm served as legal advisor to Acadia Pharmaceuticals in its acquisition of CerSci Therapeutics.
San Diego-based Acadia acquired all of the outstanding shares of CerSci for $52.5 million, primarily in Acadia stock. CerSci shareholders may also receive up to $887 million in development, commercialization, and sales milestones in addition to tiered royalties in the mid-single digits based on annual net sales.
The acquisition strengthens Acadia’s clinical pipeline to include non-opioid pain therapies that have potential non-addictive properties and reduced side effects typically seen with current opioid treatments.
Carl Sanchez, M&A partner in Paul Hastings’ Global Mergers & Acquisitions practice, led the firm’s advisory team, which included lawyers from across multiple practices: Deyan Spiridonov (M&A), Joseph Swanson (M&A), Todd Schneider (IP), Amy Lawrence (tax), Riley Millender (M&A), and James Shea (securities/capital markets). “This was a complex deal with many moving parts and multiple facets, and we’re pleased to have represented Acadia,” Mr. Sanchez said.
The Acadia-CerSci merger adds another M&A transaction in the pharmaceutical sector that Mr. Sanchez and the M&A team have recently advised on. Earlier this month, the firm represented Secura Bio, Inc. in its purchase of the global rights to the anti-cancer drug Copiktra® (duvelisib) from Verastem, Inc., in a deal valued at up to $310 million. The firm also advised Spectrum Pharmaceuticals, Inc. in its sale last year of seven FDA-approved hematology/oncology products to Acrotech Biopharma LLC, a subsidiary of Aurobindo Pharma USA, Inc., for up to $300 million.
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- Paul Hastings LLP
- Paul Hastings LLP