SAN FRANCISCO — West Coast teams from Latham & Watkins and Cooley advised on the reverse merger of biopharmaceutical company Transcept Pharmaceuticals and Paratek Pharmaceuticals.
Point Richmond, Calif.-based Transcept is a publicly traded company that’s struggled to monetize an insomnia drug. Boston-based Paratek, on the other hand, is a privately held company with a Phase III antibiotic whose plans for an initial public offering were scuttled last year.
A reverse merger, also known as a reverse IPO, allows a private company to go public by taking majority control of a public company’s stock, and then swapping shares.
As part of the deal, which is subject to regulatory approvals and closing conditions, investors and stockholders raised $93 million and the combined company will also be bolstered by $18 million Transcept has in cash.
The Latham team advising Transcept included partners Alan Mendelson, Luke Bergstrom, Christopher Kaufman and Mark Roeder, as well as associates Brian Cuneo, Chad Rolston, Benjamin Liss and Saied Pinto.
The Cooley team advising Paratek’s investors included partners Mehdi Khodadad and John McKenna, special counsel Brian Wheeler and associates Bhavit Sheth and Ian Shannon.
Boston lawyers from Pepper Hamilton advised Paratek and Ropes & Gray advised Transcept’s investors.
Contact the reporter at firstname.lastname@example.org.