Gilead Sciences has agreed to acquire CymaBay Therapeutics, a biopharmaceutical company focused on improving the lives of people with liver and other chronic diseases, for a total equity value of approximately $4.3 billion. The transaction, announced Feb. 12, is expected to close in the first quarter of 2024. Foster City, California-based Gilead Sciences was advised by a Davis Polk & Wardwell team including partners David Bauer, Cheryl Chan, Michael Mollerus and Paul Scrivano. CymaBay Therapeutics, which is based in Newark, California, was represented by a Cravath, Swaine & Moore team led by partners Richard Hall and Matthew L. Ploszek. Debevoise & Plimpton represented Guggenheim Securities, which acted as one of the financial advisers to Gilead Sciences. The Debevoise & Plimpton team was led by partner Andrew Bab. Skadden, Arps, Slate, Meagher & Flom represented the financial advisers to CymaBay, which were Centerview Partners and Lazard.
Biotech & Pharmaceuticals
February 13, 2024, 9:56 AM