On July 19, 2018, PTC Therapeutics, Inc.—a science-led, global biopharmaceutical company focused on the discovery, development and commercialization of clinically-differentiated medicines that provide benefits to patients with rare disorders—announced that it has signed a definitive merger agreement to acquire Agilis Biotherapeutics, Inc. for upfront consideration of approximately $50 million in cash and $150 million in newly issued PTC shares, subject to certain adjustments, plus up to an additional $745 million of contingent milestone payments as well as royalties based on net sales. Agilis is a privately-held biotechnology company advancing an innovative gene therapy platform for rare nervous monogenic diseases that affect the central system.
PTC Therapeutics was represented throughout this transaction by a WilmerHale team led by Partner Hal Leibowitz that included Partners Brian Johnson and Joseph Conahan, Counsel Chris Barnstable-Brown, and Associates Sean Linnehan, John Wagner and Erin Garrity on corporate and M&A matters; Partner Steven Singer, Counsel Lily Wound and Associate Victoria Hartmann on technology transactions and licensing matters; Partner Justin Ochs on financing matters; and Partners Kim Wethly, Scott Kilgore, Julie Hogan Rodgers and Associate Ben Kelsey on tax, executive compensation and employee benefits matters.