Fenwick Represents Escient Pharmaceuticals in Pending $750 Million Acquisition by Incyte
Fenwick is representing Escient Pharmaceuticals, a clinical-stage drug discovery and development company advancing novel small molecule therapeutics for systemic immune and neuro-immune disorders, in its pending acquisition by Incyte, a global biopharmaceutical company. Incyte will also acquire Escient’s oral MRGPR antagonists, EP262, a first-in-class, potent, highly selective, once-daily small molecule antagonist of Mas-related G protein-coupled receptor X2 (MRGPRX2) and EP547, a first-in-class oral MRGPRX4 antagonist.
Under the terms of the agreement, Incyte will acquire Escient and its assets for $750 million plus Escient’s net cash remaining at the close of the transaction, subject to customary adjustments. The acquisition is subject to clearance under the Hart-Scott-Rodino Act, among other customary conditions, and will become effective promptly following the satisfaction or waiver of these conditions which is currently anticipated to be by the third quarter of 2024. The acquisition of Escient supports Incyte’s portfolio strategy and complements its expanding R&D activities in Inflammation and Autoimmunity (IAI). More information can be obtained from the announcement.
The Fenwick transaction team includes corporate partners Effie Toshav and David Michaels, counsel Jeremy Delman, associates Rob O’Connor, Jordan Beals, Matt Reiser and Michael Murrietta and law clerk Nick Dugas; technology transactions partners Stefano Quintini and Key Shin, associates Pinar Bailey, Julia Chung, Ellis Liang, Aaron Dunn, Alberto Tohme and Kristen Rovai, advisor Sandra Weustink and law clerk Taylor Muentener; executive compensation and employee benefits partner Marshall Mort and associates Jonathan Stephenson, Jennifer Lin and Elizabeth Fu; privacy and cybersecurity counsel Ana Razmazma; antitrust partner Tom Ensign and associates Elizabeth Suarez and Kaylynn Moss; healthcare regulatory partner Jennifer Yoo and associate Santino Labate; and tax partner Mike Knobler and associate Kris Hatch.