Goodwin Procter advised Nimbus Therapeutics, LLC in its definitive agreement with Gilead Sciences, Inc. under which Gilead will acquire Nimbus Apollo, Inc., a wholly owned subsidiary of Nimbus Therapeutics, and its Acetyl-CoA Carboxylase (ACC) inhibitor program. Nimbus Therapeutics will receive an upfront payment of $400 million, with the potential to receive an additional $800 million in development-related milestones over time.
Nimbus Therapeutics is a biotechnology company headquartered in Cambridge, Mass. With its breakthrough computational chemistry platform, enabled through its privileged partnership with co-founder, Schrödinger, Inc., Nimbus is pioneering the application of computational chemistry to design treatments for substantial and underserved human diseases.
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company’s mission is to advance the care of patients suffering from life-threatening diseases. Gilead has operations in more than 30 countries worldwide, with headquarters in Foster City, Calif.
The Goodwin team advising Nimbus included partners Mitch Bloom, Art McGivern, Sarah Solomon and Dan Karelitz, counsel Kathleen Kean, and associates Bill Collins, Erini Svokos, Gabriela Morales-Rivera and Benjamin Piper.
Goodwin also counseled Nimbus on its $43 million Series B financing in March 2015.
For more details on the transaction, please view the press release.