Deals & Corporate Governance

  • February 13, 2024

    Breast Implant Maker Sientra Hits Ch. 11 With $82M In Debt

    Breast implant maker Sientra Inc. has filed for Chapter 11 protection in Delaware bankruptcy court with $82 million in debt, saying it is seeking a buyer for the business in the face of declining sales.

  • February 12, 2024

    Assure Buys Danam Health To Form $150M Business

    Neurology services company Assure and wellness platform Danam Health said Monday that they will merge in a deal valuing the combined company at roughly $150 million, led by respective legal advisers Dorsey & Whitney LLP and Dykema & Gossett PLLC.

  • February 12, 2024

    Alys Pharmaceuticals Launches With $100M In Financing

    A new immuno-dermatology company created as an amalgamation of six separate startups launched on Monday with $100 million in financing to target dermatological indications.

  • February 12, 2024

    Gilead Buying Liver Disease Drugmaker CymaBay For $4.3B

    Gilead Sciences Inc. said Monday that it has agreed to purchase liver disease-focused clinical-stage biopharmaceutical company CymaBay Therapeutics Inc. for $4.3 billion in cash.

  • February 09, 2024

    Groups Claim NYC Hospital Closing To Liquidate Real Estate

    A community group, tenants associations and other organizations claimed in New York state court that the Mount Sinai Health System's unapproved and "grossly deficient" closure and service reduction plans for Mount Sinai Beth Israel Hospital are attempts to profit from "very, very valuable" Manhattan real estate.

  • February 09, 2024

    FTC Clears AbbVie To Proceed With $10.1B ImmunoGen Buy

    The 30-day waiting period for U.S. antitrust enforcers to review AbbVie's $10.1 billion purchase of ImmunoGen came and went without a move to deepen the investigation or challenge the deal, clearing the parties to close the agreement on or about Monday, ImmunoGen said on Thursday.

  • February 09, 2024

    Goodwin-Led Gene Editing Firm Metagenomi Raises $94M IPO

    Preclinical biotech Metagenomi began trading publicly on Friday, raising $94 million by offering 6.25 million shares at $15, the low end of the $15 to $17 range it had set earlier in the week.

  • February 09, 2024

    What To Know About 'Novel' Johnson & Johnson ERISA Suit

    A new lawsuit from a Johnson & Johnson worker claims the company violated federal law by letting pharmacy benefit manager Express Scripts overcharge health plan participants for drugs, potentially signaling that fee litigation under the Employee Retirement Income Security Act is shifting focus from retirement savings to health benefits, attorneys say.

  • February 08, 2024

    BioNTech Puts $200M Into Collab With Cancer Biotech Autolus

    German immunotherapy company BioNTech will inject $200 million into cancer-focused biotechnology firm Autolus Therapeutics PLC as part of a strategic collaboration announced Thursday.

  • February 08, 2024

    Biotech Co. Neurona Therapeutics Raises $120M

    Clinical stage biotech company Neurona Therapeutics announced Thursday that it raised $120 million to advance the development of its lead treatment NRTX-1001 as well as other preclinical programs.

  • February 08, 2024

    Dentists In $13B Delta Dental Suit Want Class Status

    Dental providers claiming the nation's largest dental insurance system and its members engaged in a $13 billion scheme to restrict competition and lower reimbursement rates told an Illinois federal judge their claims deserve class treatment because common evidence will prove both the alleged conspiracy and its impact.

  • February 08, 2024

    Paul Hastings, Covington Guide Kyverna's Upsized $319M IPO

    Cell therapy firm Kyverna Therapeutics Inc. soared 36% in debut trading Thursday after completing an upsized $319 million initial public offering above its price range, guided by Paul Hastings LLP and underwriters counsel Covington & Burling LLP, marking the latest life sciences company to go public.

  • February 07, 2024

    Life Sciences VC Scion Launches With $310M Fund

    A new life sciences venture capital firm led by a trio of veteran healthcare investors publicly launched on Wednesday with $310 million in funding. 

  • February 07, 2024

    Set Aside Time, Cash For Calif. Health M&A Regs, Experts Warn

    Healthcare entities looking to close transactions in California should expect to set aside ample time and money to deal with new regulations that will require many of them to submit notice and potentially wait months for approval to close a deal, experts said Wednesday.

  • February 07, 2024

    REIT Raises $672M IPO At Low End While Insurer Pulls Plans

    Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery.

  • February 07, 2024

    Pinsent Masons Guides Redx In $880M Cancer Drug Sale

    Biotechnology company Redx Pharma PLC on Wednesday said that it has agreed to sell global rights for further development of a cancer-fighting program to Jazz Pharmaceuticals PLC for up to $880 million in a deal guided by Pinsent Masons LLP.

  • February 06, 2024

    Staffing Firm To Exit Pa. Nurse's Wage Action

    One of two staffing firms accused of shorting Pennsylvania nurses for their overtime work will exit a proposed class action, as a nurse informed a Pennsylvania federal court that she had agreed to arbitrate her claims against the company.

  • February 06, 2024

    Cano Health DIP Gets Initial OK Without $23M Lender Fees

    A Delaware bankruptcy judge on Tuesday delayed approving $22.5 million in fees payable to post-petition lenders in the Chapter 11 case of primary care group Cano Health Inc., saying the company didn't show the fees were required to induce lenders to participate in a $150 million debtor-in-possession loan package.

  • February 06, 2024

    Judge Accepts DHA's Course-Correct For $65B Tricare Deal

    The U.S. Court of Federal Claims explained Tuesday why it cleared an embattled deal for healthcare services for the U.S. Department of Defense, saying the department appropriately handled claims challenging the winning company's small business participation plan.

  • February 06, 2024

    McDermott-Led 3 Boomerang Nabs $375M For Debut Fund

    Healthcare-focused private equity firm 3 Boomerang said Tuesday that it had wrapped fundraising for its inaugural investment vehicle, 3 Boomerang Capital I LP, with over $375 million in capital commitments, led by McDermott Will & Emery LLP.

  • February 06, 2024

    Sheppard Mullin Adds Partner From Faegre Drinker In Chicago

    Sheppard Mullin Richter & Hampton's Chicago office has gained a healthcare transactions partner from Faegre Drinker Biddle & Reath LLP, Sheppard announced Tuesday.

  • February 06, 2024

    AI Operating System Built For Healthcare Lands $70M

    San Francisco-based Ambience Healthcare, a generative AI technology startup targeting the medical world, has raised $70 million in Series B funding, the company announced Tuesday.

  • February 06, 2024

    Freshfields Helps Novartis Buy German Pharma In €2.7B Deal

    Swiss pharmaceutical giant Novartis AG has agreed to buy MorphoSys AG in a deal that values the German biopharmaceutical group at €2.7 billion ($2.9 billion) as it seeks to develop its oncology treatment options.

  • February 05, 2024

    Zymergen Ch. 11 Plan Confirmed After Investor Objection

    Biotechnology company Zymergen received confirmation of its Chapter 11 plan Monday at a hearing in Delaware bankruptcy court after resolving an objection to the plan from a class of investors suing the company.

  • February 05, 2024

    Northwind, REIT Close $52M In Loans For Healthcare Facilities

    Northwind Group and CareTrust REIT Inc. originated more than $52M in mezzanine loans that were secured with 26 healthcare properties in California, Missouri and Virginia, the companies announced Monday.

Expert Analysis

  • Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Revalidation Unlikely To End NIH Tech-Deal Bid Protest Saga

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    Recent U.S. Government Accountability Office decisions requiring the National Institutes of Health to again rework a $50 billion information technology contract probably won't result in an award for many protesters, and the corrective action will likely be followed by more protests, say James Tucker and Damien Specht at MoFo.

  • Colorado Antitrust Reform Carries Broad State Impact

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    Colorado recently became the latest state to update and expand its antitrust laws, and the new act may significantly affect enforcement and private litigation, particularly when it comes to workers and consumers, says Diane Hazel at Foley & Lardner.

  • Parsing Through The FTC's Proposed Health Privacy Updates

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    The Federal Trade Commission's recently proposed updates to its Health Breach Notification Rule contain subtle but significant changes to key terms that help modernize the agency's health app regulation and provide stakeholders an important opportunity to help shape the future of virtual health care, say attorneys at Arnold & Porter.

  • Regulating AI: An Overview Of Federal Efforts

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    The U.S. has been carefully managing a national policy and regulatory ecosystem toward artificial intelligence, but as AI technology continues to expand into our everyday lives, so too has its risks and the need for regulation, says Jennifer Maisel at Rothwell Figg.

  • Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • Indivior Ruling May Affect Rebate Wall Litigation

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    A New Jersey federal court's recent decision in Indivior v. Alvogen, in which a claim that an alleged rebate wall anti-competitively blocked generic competition survived summary judgment, may provide a blueprint for successfully challenging other drug rebating practices, say Peter Herrick and Monsura Sirajee at O'Melveny.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

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    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Tales From The Trenches Of Remote Depositions

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    As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.

  • What's New In The DOJ-FTC Proposed Merger Guidelines

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    While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.