True North Therapeutics successfully navigated a complex route from its formation by spin-out in 2013 to its successful acquisition in 2017. Gunderson Dettmer lawyers, led by partner Marcia Hatch, guided and advised True North’s CEO, Nancy Stagliano, and her management team the entire way.
Our corporate, tax and intellectual property lawyers structured True North’s spinout from parent company, iPierian, Inc.
3 Healthcare Stocks with BIG Upside
and worked to extract the IP that would become its lead pharmaceutical product candidate, TNT009, a drug for the treatment of rare auto-immune diseases. While True North’s scientists worked on product development, Marcia, Nancy and their teams negotiated a series of venture financings to fund the company’s R&D efforts.
As TNT009 advanced through clinical trials and the company began the parallel development of more drug candidates, Nancy and her team needed a broader funding strategy.
True North and Gunderson developed a multi-pronged plan that included preparing for an IPO, conducting a mezzanine financing, and developing key strategic relationships.
As True North readied for its IPO in May 2017, Bioverativ (NASDAQ: BIVV), a global biotechnology company, presented Nancy and her team with an acquisition offer.
Gunderson’s M&A specialists negotiated a definitive agreement to sell True North for up to $825 million in just three weeks.
“Gunderson’s team has always been a true partner for True North—an extension of our management,” said Nancy Stagliano, CEO.
“We needed every bit of their experience with complex transactions to make this happen in a way that benefitted everyone.
Their strategic guidance, knowledge of our investors and their needs, and ability to structure financings and exit transactions in creative, win-win ways, has really guided us toward success from the very beginning.”