Press Release
August 17, 2023

Goodwin Israel Practice Advises on Five M&A Transactions, a Registered Direct Offering, and Multiple Financings

Goodwin’s Israel practice continues its momentum as a destination law firm for Israeli companies and founders, as well as investors in the technology and life sciences sectors in Israel. Over the past few months, the practice has advised multiple Israel-based or Israeli-founded technology and life sciences companies in five mergers & acquisitions, a public follow-on offering, five early-stage financings, and three late-stage financings. Select representations include:

  1. Biosight Ltd., a privately-held clinical-stage biotech company developing innovative therapeutics for hematological malignancies and disorders, in its definitive merger agreement with Ayala Pharmaceuticals, Inc. (OTCQX: ADXS), a publicly-traded clinical-stage oncology company. The transaction is expected to close prior to the end of the third quarter of 2023, subject to regulatory and other conditions. The team was led by Mayan Katz and Sheran Sharafi.
  2. BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases, in its $7.5 million registered direct offering. The team was led by Mayan Katz, Della Fok, and Karin Yoo.
  3. Citymapper, a UK-based premier journey planning app and transit technology company, in its acquisition by Via, a global leader in TransitTech. The team was led by Adam ThatcherRichard Bloomfield and Ciara Kendall.
  4. Dynatrace (NYSE: DT), a leader in unified observability and security, in its acquisition of Rookout, a provider of enterprise-ready and privacy-aware solutions that enable developers to quickly troubleshoot and debug actively running code in Kubernetes-hosted cloud-native applications. The transaction is expected to close in the third calendar quarter of 2023, subject to customary conditions. The team was led by Joe Theis, Aaron Berman and Jason Goldfarb.
  5. ReWalk Robotics Ltd. (Nasdaq: RWLK), a medical device company and a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, in its $19 million acquisition of AlterG, Inc., a leading innovator and leading provider of Anti-Gravity systems for use in physical and neurological rehabilitation. The team was led by Rachael Bushey, Jennifer Porter, Laura Umbrecht Gulick and Stephanie Isaia.
  6. VBL Therapeutics (Nasdaq:VBLT), a biotechnology company developing targeted medicines for immune-inflammatory diseases, on its definitive merger agreement with Notable Labs, Inc., a clinical-stage therapeutic platform company developing predictive precision medicines for cancer patients. The team was led by Tevia Pollard and Jinal Sharma.

Goodwin’s Israel practice provides solutions and produces results for Israeli companies and founders operating globally, private equity and venture capital firms investing in Israeli enterprises, companies doing business in Israel, and investors interested in investment and transactional opportunities in the region, by leveraging the experience of lawyers working across the firm’s practices areas and global office locations, including Israeli trained and qualified lawyers.