The Public M&A and Life Sciences teams advised Cycle Pharmaceuticals (“Cycle”) on a definitive agreement for Cycle to acquire Applied Therapeutics (“Applied”), a clinical-stage biopharmaceutical company dedicated to creating transformative treatments for rare diseases. Under the terms of the merger agreement, Cycle will commence a tender offer to acquire all of the outstanding shares of Applied common stock for a price of $0.088 per share in cash payable at closing plus one non-transferrable contingent value right (CVR) that entitles the holder to receive potential additional payments.
Cycle Pharmaceuticals was founded in 2012 with the sole aim of delivering drug treatments and product support to the underserved rare disease community. Cycle Pharma focuses on rare genetic conditions in metabolic, immunology, urology, and oncology. In neurology, the company focuses on multiple sclerosis. Cycle Pharma is headquartered in Cambridge, UK and has offices in Detroit, Michigan and Boston, Massachusetts.
The Goodwin deal team was led by Mike Patrone, Amanda Gill and Nathalie Dabrowski, with assistance from Tim Worden, David Mardle, Reid Bagwell, Deb Birnbach, Grace Wirth, Christina Lewis, Jacquelyn Burke, Beni Surpin, Steven Tjoe, Heath Ingram, Dan Karelitz, Catherine McCarty, Eram Khan, Ortal Ben Aron, Nicholas Pellow, Xixi Sun, Tyler Mayo, Jacquelyn Watson, Ana Alvarado, Daniel Kong, Ben Colao, Kelly Song and Timbre Griffin.
For more information on the deal, please read the press release.