Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins are acting on Otsuka Pharmaceutical’s acquisition of Jnana Therapeutics valued at up to USD1.12 billion in Tokyo.
Under the definitive merger agreement, Otsuka will pay USD800 million to the shareholders of Jnana on completion of the acquisition, which is anticipated to close in the third quarter of 2024. An additional amount of USD325 million will be payable contingent on the achievement of certain development and regulatory milestones.
Skadden represents Otsuka, with the team led by Tokyo-based partner Mitsuhiro Kamiya and Palo Alto-based partner Mike Mies. Partners Ken Kumayama, Joe Yaffe, David Schwartz, Nate Giesselman, Michael Leiter, Avia Dunn, Nesa Amamoo and Peter Luneau provided additional counsel.
Latham & Watkins is advising Jnana, with partners Leah Sauter and Peter Handrinos leading the team, along with partners Matthew Conway, Katharine Moir, Aaron Gardner, Heather Deixler, Elizabeth Richards and Patrick English.
Jnana, a Boston-based biotechnology enterprise, will become a wholly-owned subsidiary of Otsuka, a Japanese pharmaceutical company, through its indirect subsidiary Otsuka America.
