Press Release August 24, 2020

Yumanity Therapeutics and Proteostasis Therapeutics Announce Merger Agreement

The Life Sciences team advised Yumanity Therapeutics on its definitive merger agreement with Proteostasis Therapeutics, Inc. (Nasdaq: PTI). The combined company, operating under the name Yumanity Therapeutics, Inc., will leverage a common scientific expertise in the area of protein misfolding to advance Yumanity’s pipeline of innovative, disease-modifying programs for neurodegenerative diseases. 

Yumanity is a clinical-stage biopharmaceutical company that is accelerating the revolution in the treatment of neurodegenerative diseases through its transformative scientific foundation and drug discovery platform. The company’s most advanced product candidate, YTX-7739, is currently in Phase 1 clinical development for Parkinson’s disease. Yumanity’s growing pipeline consists of additional programs focused on Lewy body dementia, amyotrophic lateral sclerosis (ALS), and Alzheimer’s disease. PTI is a clinical stage biopharmaceutical company developing small molecule therapeutics to treat cystic fibrosis and other diseases caused by dysfunctional protein processing.

Under the terms of the merger agreement, PTI will acquire all outstanding shares of Yumanity in exchange for newly-issued shares of PTI common stock. Upon completion of the proposed acquisition, it is anticipated that existing PTI shareholders will own approximately 32.5% of the combined company and Yumanity shareholders will own approximately 67.5% of the combined company.

The Goodwin team was led by Stuart Cable, John Haggerty, Art McGivern, Chukwudi Udeogalanya, Jesse Nevarez, and Catherine Magazu.

For more details, read the press release.