Frankfurt - Paul Hastings LLP, a leading global law firm, announced today that it is advising biopharmaceutical company MSD (tradename of Merck & Co., Inc., Kenilworth, N.J., USA (NYSE: MRK)) on its acquisition of Munich-headquartered therapeutics company Rigontec.
Under the terms of the agreement, MSD will make an upfront cash payment of €115 million to Rigontec’s shareholders; based on the attainment of certain clinical, development, regulatory and commercial milestones, MSD may make additional contingent payments of up to €349 million. The transaction is subject to certain closing conditions.
Rigontec is a pioneer in accessing the retinoic acid-inducible gene I (RIG-I) pathway, part of the innate immune system, as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity. Rigontec’s lead candidate, RGT100, is currently in Phase I development evaluating treatment in patients with various tumors.
Rigontec was founded in 2014 as a spin-out of the University Bonn, Germany, and has to date raised close to €30 million from experienced life science investors including Boehringer Ingelheim Venture Fund, Forbion Capital Partners, High-Tech Gründerfonds, MP Healthcare Venture Management, NRW.BANK, Sunstone Capital and Wellington Partners Life Sciences.
The Paul Hastings team was led by Frankfurt corporate partner Dr. Regina Engelstädter, with partners David Shine, Dr. Christian Mock, Gary Giampetruzzi, Pierre Kirch, Andrew Short, counsel Uwe Halbig and associates Frank Kafka, Anna-Lia Meyer, Joshua Milgrom and Brooke Schachner.
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