On July 17, 2023, DTx Pharma, a preclinical-stage biotechnology company addressing the delivery challenges of oligonucleotide therapeutics with its Fatty Acid Ligand Conjugated OligoNucleotide (FALCON™) platform, announced that it has been acquired by Novartis. Wilson Sonsini Goodrich & Rosati advised DTx Pharma on the transaction.
The FALCON platform enables the delivery and activity of small interfering RNA (siRNA) therapeutics to tissues beyond the liver, enhancing biodistribution and cellular uptake. DTx Pharma’s lead program is currently in preclinical development, with FDA Orphan Drug Designation, for the treatment of Charcot-Marie-Tooth Disease Type 1A (CMT1A). CMT1A is a progressive, neuromuscular, autosomal-dominant disease that can lead to life-long loss of muscle function and disability.
Currently, there are no approved therapeutics addressing PMP22, the underlying genetic cause of CMT1A, for the estimated 150,000 patients living with the debilitating disease in the United States and Europe. DTx Pharma’s lead asset, DTx-1252, is a novel, potential first-in-class, FALCON siRNA candidate targeting PMP22.
In addition to the CMT1A program, Novartis has acquired full rights to the FALCON platform and two other early-stage programs in neuromuscular and central nervous system (CNS) indications.
Under the terms of the agreement, Novartis will make an upfront payment of $500 million and additional payments upon completion of pre-specified milestones.
The Wilson Sonsini team that advised DTx Pharma on the transaction includes:
M&A
Rob Ishii
Jason Breen
Ross Tanaka
Kaleigh Hawkins-Schulz
Ava Munson
Corporate
Marty Waters
Dani Glazer Signaigo
Savir Punia
Technology Transactions
Miranda Biven
Colin Bosch
FDA Regulatory
Eva Yin
Antitrust and Competition
Ben Labow
Brendan Coffman
Kimberley Biagioli
Employee Benefits and Compensation
Scott McCall
Michael Klippert
Jason Chan
Employment Law
Jason Storck
Colleen Angus-Yamada
Aren Balabanian
Privacy and Cybersecurity
Matt Staples
Daniel Chen
National Security
Joshua Gruenspecht
For more information, please see DTx Pharma’s press release.