The Life Sciences team advised ANA Therapeutics on its sale to NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO).

ANA is a biotechnology company developing ANA-001, a proprietary capsule formulation of niclosamide for coronavirus indications, currently in Phase 2/3 clinical trials as a treatment for COVID-19.

NeuroBo is a clinical-stage biotechnology company focused on developing and commercializing multimodal, disease-modifying therapies for neurodegenerative and cardiometabolic diseases.

Under the terms of the acquisition agreement, ANA became a wholly-owned subsidiary of NeuroBo and ANA equity holders were issued an aggregate of approximately 3.24 million shares of Neurobo common stock, representing 19.7% of NeuroBo's outstanding shares. ANA shareholders will receive additional payments (in cash and/or NeuroBo common shares) upon the achievement of various development and net sales milestones for ANA-001 and will also receive royalties based on net sales of ANA-001.

The Goodwin team was led by Deepa Rich, David Johanson, and Yasin Akbari. The team also included Dan Karelitz, John Stern, Grace WirthJoseph Flynn, Owen Remeika, Ruowen Li, Koray BulutJulie Tibbets and Steve Tjoe, with assistance from Crescent Moran Chasteen, Steven Feldstein, Jim Mattus, Kara Kuritz, Scott Zilora, Sam Zucker and Tricia Hojo.

For more details, read the press release and articles in the Wall Street Journal, Yahoo News, Seeking Alpha, and Street Insider.