We advised Immedica on the transaction

Davis Polk advised Immedica Pharma AB on its acquisition from Aeglea BioTherapeutics, Inc. of all assets related to Aeglea’s program for pegzilarginase for the treatment of arginase-1 deficiency as well as other therapeutic, prophylactic, palliative and diagnostic uses, for an initial payment of $15 million and up to an additional $100 million in potential milestone payments. The transaction signed and closed on July 27, 2023.

Headquartered in Stockholm, Sweden, Immedica is a pharmaceutical company focused on the commercialization of medicines for rare and specialty diseases. Immedica’s capabilities cover marketing and sales, compliance, pharmacovigilance, quality assurance, regulatory and medical affairs and market access. Immedica’s therapeutic areas are within genetic and metabolic diseases, hematology and oncology and specialty care.

Aeglea is publicly listed Texas-based biotechnology company. In June 2023, Aeglea acquired Spyre Therapeutics, Inc. and shifted its disease focus to inflammatory bowel disease (IBD). Spyre is advancing a pipeline of antibody therapeutics with the potential to transform the treatment of IBD. Aeglea’s sale of the pegzilarginase assets to Immedica was part of its transformation into a company focused on IBD.

The Davis Polk corporate team included partner William J. Chudd and associates Tierney O’Rourke, Rachel Schlosser and Rahul Srivastava. Partner David R. Bauer and associates Yana Kipnis and Adrian Rabin provided intellectual property advice. The tax team included partner Michael Mollerus and associate William Liang. Partner Jennifer S. Conway provided executive compensation advice. Members of the Davis Polk team are based in the New York and Northern California offices.