Biogen Inc. to Acquire Reata Pharmaceuticals, Inc.
07.31.23
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Simpson Thacher is representing JPMorgan Chase Bank, N.A. in providing committed financing for a portion of Biogen Inc.’s (“Biogen”) announced acquisition of Reata Pharmaceuticals, Inc. (“Reata”) in an all-cash transaction for $172.50 per share, representing an enterprise value of approximately $7.3 billion. The committed financing consists of a 364-day senior unsecured bridge loan credit facility in an amount of up to $1.5 billion.
Reata is a global biopharmaceutical company committed to developing and commercializing novel therapeutics for patients with serious or life-threatening diseases with few or no approved therapies. Reata focuses on molecular pathways involved in the regulation of cellular metabolism and inflammation.
Biogen is a global biotechnology company that is advancing a pipeline of potential novel therapies across neurology, neuropsychiatry, specialized immunology and rare diseases. Biogen has pioneered multiple breakthrough innovations including a broad portfolio of medicines to treat multiple sclerosis, the first approved treatment for spinal muscular atrophy, and two co-developed treatments to address a defining pathology of Alzheimer’s disease.
The Simpson Thacher team includes Dan Kay, Alexander Kleinhaus-Resisi and Ashley Jaramillo (Credit); Melanie Jolson (Intellectual Property); Adam Hersch (Tax); Pasco Struhs (ECEB); and Michael Isby (Environmental).