Skadden And Latham & Watkins Advised On Otsuka Pharmaceutical's $1.12 Billion Acquisition Of Jnana Therapeutics

Skadden And Latham & Watkins Advised On Otsuka Pharmaceutical's $1.12 Billion Acquisition Of Jnana Therapeutics

Otsuka Pharmaceutical acquired Boston-based biotechnology firm Jnana Therapeutics in a deal valued at up to USD1.12 billion. Skadden, Arps, Slate, Meagher & Flom represented Otsuka, while Latham & Watkins advised Jnana Therapeutics on the deal.

The acquisition, which is expected to close in the third quarter of 2024, involves an upfront payment of USD800 million to Jnana’s shareholders, with an additional USD325 million contingent on the achievement of specific development and regulatory milestones.

Skadden's legal team was led by Tokyo-based Partner Mitsuhiro Kamiya and Palo Alto-based Partner Mike Mies. The team also includes Partners Ken Kumayama, Joe Yaffe, David Schwartz, Nate Giesselman, Michael Leiter, Avia Dunn, Nesa Amamoo, and Peter Luneau.

Latham & Watkins' team advising Jnana was led by Partners Leah Sauter and Peter Handrinos, supported by Partners Matthew Conway, Katharine Moir, Aaron Gardner, Heather Deixler, Elizabeth Richards, and Patrick English.

Following the completion of the deal, Jnana Therapeutics will operate as a wholly-owned subsidiary of Otsuka through its indirect subsidiary, Otsuka America.