The pharmaceutical company Merck has entered an agreement to acquire the biotech firm Cidara Therapeutics for approximately $9.2 billion. Legal counsel for the transaction involves Gibson Dunn & Crutcher advising Merck, while Cooley is representing Cidara.
The acquisition is contingent upon a majority of Cidara's shareholders tendering their shares and meeting other regulatory conditions, including antitrust approval. It is projected to be finalized in the first quarter of the upcoming year. A key asset in the deal is CD388, Cidara's developmental treatment for preventing influenza.
This is not the first collaboration between these firms; Gibson Dunn has previously counseled Merck on other acquisitions, and Cooley has handled prior financial and licensing matters for Cidara. Merck's leadership expressed that the purchase aligns with its strategy to enhance its pipeline with innovative scientific assets.
The acquisition is contingent upon a majority of Cidara's shareholders tendering their shares and meeting other regulatory conditions, including antitrust approval. It is projected to be finalized in the first quarter of the upcoming year. A key asset in the deal is CD388, Cidara's developmental treatment for preventing influenza.
This is not the first collaboration between these firms; Gibson Dunn has previously counseled Merck on other acquisitions, and Cooley has handled prior financial and licensing matters for Cidara. Merck's leadership expressed that the purchase aligns with its strategy to enhance its pipeline with innovative scientific assets.
