WSGR Provides IP Representation to Intellikine in Acquisition by Takeda
On December 20, 2011, La Jolla, California-based small-molecule drug developer Intellikine announced that it has entered into an agreement to be acquired by Takeda America Holdings. Under the agreement, Takeda will acquire Intellikine for $190 million in cash up front and up to $120 million in additional potential clinical development milestone payments. The transaction is expected to close in January 2012. Wilson Sonsini Goodrich & Rosati advised Intellikine in connection with the intellectual property aspects of the transaction.
The acquisition enables Takeda to make two key additions to its oncology pipeline: INK128, Intellikine's most advanced drug candidate, which is slated to enter Phase 2 studies next year, and INK1117, which recently entered its first human study. Both are PI3K/mTOR inhibitors that promise to help curb cancer cell growth.
The firm has been involved with Intellikine since the company's inception in 2007.
For additional information, please read Intellikine's press release.