Arnold & Porter recently advised Corstasis Therapeutics Inc., a privately-held, commercial-stage biopharmaceutical company, in its definitive agreement to be acquired by Esperion Therapeutics, Inc., a publicly traded biopharmaceutical company.
As part of the deal, Esperion, through a subsidiary, will acquire all outstanding Corstasis stock in exchange for an upfront payment of $75 million in cash, and Corstasis shareholders will be eligible to receive a total of up to an additional $180 million upon the attainment of certain regulatory and commercial milestones, as well as royalties on sales of certain products.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.
The Arnold & Porter team was led by Lowell Dashefsky, co-head of the firm's Private Equity and Life Sciences Transactions practices, and partner Wayne Janke.