Darryl H. Steensma

Latham & Watkins has advised Rhythm Pharmaceuticals, Inc. (Rhythm), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients and their families living with rare neuroendocrine diseases, on its global licensing agreement with LG Chem Life Sciences (LG Chem), a Korean life sciences company, for LB54640, an investigational oral small molecule melanocortin-4 receptor (MC4R) agonist now in Phase 2 clinical trials. The Latham licensing team was led by partner Steven Chinowsky with associates Oliver Mobasser and Ami Sodha. The corporate team was led by partners Peter Handrinos and Elizabeth Mims Slawsby. Advice was also provided on antitrust matters by partners Mandy Reeves and Hector Armengod, with counsel Patrick English; on public company matters by partners Jennifer Yoon and Jenna Cooper, with associates Hamna Ahmad and Naseem Faqihi Alawadhi; on tax matters by partner Kirt Switzer and associate Derek Gumm; and on patent diligence by counsel Darryl Steensma.~~

Jan 8

1 min

Swedish Orphan Biovitrum AB (publ) (Sobi) (STO:SOBI) has announced that it has entered into an agreement and plan of merger with CTI BioPharma Corp. under which Sobi has agreed to acquire CTI, a biopharmaceutical company focused on blood related cancers and rare diseases. Sobi will commence a cash tender offer to acquire all issued and outstanding shares of CTI for US$9.10 per share, corresponding to a total equity value of US$1.7 billion. Latham & Watkins LLP represents Sobi in the transaction with a corporate deal team led by Orange County partner Scott Shean and New York partner Leah Sauter, with New York associates Jennifer Wong, Ozden Samur-LaBruna, and Emma Green. Advice was also provided on healthcare and FDA regulatory matters by Washington, D.C. partners Elizabeth Richards, Christopher Schott, Paris/Brussels partner Eveline Van Keymeulen and Washington, D.C. counsel Nicole Liffrig Molife, with Washington, D.C. associates Kathryn Culver, Margaret Rote, Daniel Machado, Maria Malas, and Paris associate Jeanne Fabre; on intellectual property matters by San Diego partner Steven Chinowsky and counsel Darryl Steensma and London associate Oliver Mobasser;* on data privacy matters by Bay Area partner Michelle Ontiveros Gross, with associate Adriana Beach and London associate Oliver Mobasser;* on tax matters by Bay Area partners Grace Lee and Kirt Switzer, with associates Alexander Farris and Rasha Suleiman; on employment, benefits and compensation matters by Los Angeles/ Orange County partner Michelle Carpenter, with associates Sara Schlau and Viva Iemanjá Jerónimo; on antitrust matters by Bay Area partner Joshua Holian, Brussels partner Héctor Armengod and Washington, D.C. counsel Patrick English; on sanctions and anticorruption matters by Washington, D.C. partner Erin Brown Jones and counsel Andrew Galdes, with associate Allison Hugi; on finance matters by Los Angeles partner Nathan Whitaker and counsel Jonathan Shih, with associate Julia Steinberg; and on securities matters by New York associate David Califano. *On secondment to the New York office of Latham & Watkins LLP. Admitted to practice in England & Wales only.~~

May 10

1 min

Assertio Holdings, Inc. (Nasdaq: ASRT) (Assertio), a specialty pharmaceutical company offering differentiated products to patients, and Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI), a commercial stage biopharmaceutical company focused on novel and targeted oncology, have announced that they have entered into a definitive agreement pursuant to which Assertio will acquire all outstanding shares of Spectrum in an all-stock and contingent value rights (CVR) transaction. Latham & Watkins LLP represents Assertio in the transaction with a corporate deal team led by Chicago partners Zachary Judd and Owen Alexander, with associates Michael Magstadt, Autumn Schmidt, and Serena Su. Advice was also provided on public company representation matters by Chicago partners Cathy Birkeland and Jonathan Sarna, with associates Andrew Rutsky and Omeed Valipour; on tax matters by Chicago partner Rene de Vera, with associate Chris Ohlgart; on executive compensation and benefits matters by Chicago partner Benjamin Rosemergy, with associates Jina Davidovich and Joe Gu; on environmental matters by Washington, D.C. partner Julia Hatcher, with associate Andrew Landolfi; on real estate matters by Chicago partner Robert Buday, with associate Karen Ritter; on FDA regulatory matters by Washington, D.C. partner Ben Haas, with associate Seth Olson; on intellectual property matters by San Diego partner Steven Chinowsky and San Diego counsel Darryl Steensma, with associate Robert Yeh; on data privacy matters by Bay Area partner Robert Blamires, with associates Kathryn Parsons-Reponte and Dyllan Brown-Bramble; on healthcare regulatory matters by Bay Area partner Betty Pang, with associates Yanyan Zhou and Leia Gu; on finance matters by Chicago partner Noah Weiss and Chicago counsel Colin O’Regan; on securities matters by Chicago partners Nicholas Siciliano and Heather Waller; and on antitrust matters by Washington, D.C. partner Amanda Reeves, Bay Area counsel Jason Daniels. and Washington, D.C. counsel Britton Davis.~~

Apr 26

1 min

Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, has announced it has entered into an exclusive worldwide license agreement with Novartis (NYSE: NVS) for naporafenib, a Phase 2 pivotal-ready pan-RAF inhibitor with a potential first-in-class and best-in-class profile in NRAS mutant (NRASm) melanoma and other RAS/MAPK pathway-driven tumors. To date, naporafenib has been dosed in over 500 patients across multiple trials and has demonstrated preliminary clinical proof-of-concept as well as favorable safety and tolerability data both as a single agent and in combination with other molecularly targeted and immuno-oncology therapies. As separately announced, Erasca has priced a US$100 million equity offering with select healthcare investors. The offering is expected to close on December 13, 2022, subject to the satisfaction of customary closing conditions. Latham & Watkins LLP advised Erasca on the license transaction with a team led by Bay Area partner Judith Hasko and San Diego Counsel Darryl Steensma. Advice was also provided on securities matters by San Diego partners Cheston Larson and Matt Bush, with associate Claire Drucker. The San Diego team also led the common stock offering transaction.~~

Dec 13

1 min

Gossamer Bio, Inc. (Nasdaq: GOSS), a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary hypertension, and Chiesi Farmaceutici S.p.A international, research-focused biopharmaceutical group, have announced that they have entered into a global collaboration and license agreement to develop and commercialize seralutinib. Latham & Watkins LLP represented Gossamer Bio in the transaction with a healthcare and life sciences team led by San Diego partner Steve Chinowsky, and San Diego counsel Darryl Steensma, with London associate Sara Patel. Advice was also provided on corporate matters by San Diego partner Kevin Reyes; on antitrust matters by Washington, D.C. partner Patrick English; on tax matters by San Francisco partner Kirt Switzer, with associate Jake Meninga; and on data privacy matters by San Francisco partner Heather Deixler.~~

May 7

1 min