Mintz advised biopharmaceutical company Censa Pharmaceuticals, Inc. in its sale to global biopharmaceutical company PTC Therapeutics, Inc. (NASDAQ: PTCT) for an upfront payment of approximately $10 million in cash and up to 850,000 shares of PTC Therapeutics’ common stock, which as of the deal’s closing date, May 29, was trading at $50.71 per share, totaling over $43 million. In addition to the upfront payments, potential future contingent consideration includes more than $500 million for reaching select development, regulatory and commercial milestones.
Wellesley, Massachusetts-based Censa Pharmaceuticals is focused on the development of CNSA-001 (sepiapterin), a clinical-stage investigational therapy for orphan metabolic diseases, including phenylketonuria (PKU) and other diseases associated with defects in the tetrahydrobiopterin (BH4) biochemical pathways diagnosed at birth. Additional details on this transaction are available here.
The Mintz team that advised Censa Pharmaceuticals on this transaction was led by Member Marc Mantell and Member and Co-chair of the firm’s Life Sciences Practice Bill Whelan, and included Members John Cheney, Avi Reshtick, Jessica Catlow, Robert Burwell, Linda Bentley, Special Counsel Farrah Short, and Associates Flora Brookfield, KJ Cho, Sarah Palmer, David Salamon, Quinn Hetrick, Alexander Song, and Marguerite McConihe.
Mintz is one of the leading law firms to the life sciences industry. The firm’s attorneys advise hundreds of businesses and other organizations across the sector’s ecosystem—from start-ups and emerging growth companies to large public companies as well as venture capital firms, investment banks, and research and academic institutions—on pivotal deals, mission-critical disputes, intellectual property, and regulatory matters.