The Life Sciences team advised Esperion Therapeutics (NASDAQ: ESPR) on a licensing agreement expanding the company’s partnership with Daiichi Sankyo, and on securing the third and final tranche of funding of its $50 million revenue-based funding agreement with an investor group led by Oberland Capital Management LLC.
Esperion, The Lipid Management Company, discovers, develops, and commercializes innovative medicines and combinations to lower cholesterol, especially for patients whose needs aren’t being met by the status quo.
The licensing agreement expands the global potential of the bempedoic acid franchise covering select strategic countries in Asia, the Middle East, and Latin America. Esperion will receive an upfront cash payment of $30 million, up to $175 million in sales milestone payments as well as tiered royalties from 5 to 20 percent on net sales in the territory. With this deal, combined milestones from Daiichi Sankyo group now total over $1.1 billion.
The Goodwin licensing team was led by Christopher Denn and Nancy Urizar. The Goodwin fundraising team was led by Mitchell Bloom, Arthur McGivern, Sarah Stoiber, Shivani Suhag, Joseph Flynn, and Milena Tantcheva.