On April 16, 2023, pharmaceutical company Merck announced the $10.8 billion acquisition of clinical-stage biotechnology company Prometheus in a deal that will boost Merck’s presence in immunology. Wilson Sonsini Goodrich & Rosati advised Prometheus on IP and patent matters related to the transaction.

Prometheus focuses on the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for treating immune-mediated diseases. The company’s lead candidate, PRA023, is a humanized monoclonal antibody (mAb) that treats immune-mediated diseases including ulcerative colitis (UC), Crohn’s disease (CD), and other autoimmune conditions. Merck will be purchasing all of the outstanding shares of Prometheus as part of the transaction. The deal is expected to close in the third quarter of 2023.

The Wilson Sonsini team advising on the transaction includes Matt Bresnahan, Alicia Umpierre, Sara Patak, Matt Wheeler, Erin Anderson, Dustin Luettgen, Kyle Headrick, , Jackie Geer, Sarah Rollins, and Therese Zavieh.

For more information, please see the company’s press release or media coverage at the Wall Street Journal.