Kirkland Advises Eli Lilly on Acquisition of LimmaTech Biologics

Kirkland & Ellis advised Eli Lilly and Company (NYSE: LLY) on the acquisition of LimmaTech Biologics AG. Under the terms of the agreement, Lilly will acquire LimmaTech for up to $780 million in cash, inclusive of an upfront payment and additional potential payments based upon the achievement of certain clinical and regulatory milestones. LimmaTech Biologics is developing vaccines against bacterial pathogens for which rising antimicrobial resistance is steadily closing therapeutic options, including Staphylococcus aureus, Neisseria gonorrhoeae and Chlamydia trachomatis. The company's proprietary platform is designed to generate broad, durable immune responses against complex bacterial targets by targeting the toxins and superantigens that drive disease. LimmaTech's lead program, LTB-SA7, is in Phase 1 development as a vaccine against S. aureus, the leading cause of surgical-site infection. The company's preclinical pipeline is pursuing additional bacterial pathogens, including those that drive infertility and other long-term consequences of infection that fall disproportionately on women.

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The Kirkland team included corporate lawyers Keri Schick Norton, Sarkis Jebejian, Lilybelle Abraham, Victor Simonte, Anne Hicks and Fakhouri Ayham; technology & IP transactions lawyers Shellie Freedman, Rami Sherman and Amani Coutinho; antitrust & competition lawyers Andrea Agathoklis Murino, Samantha Morelli and Margarita Karkantzou; tax lawyer Liam Murphy; and executive compensation lawyers Rob Fowler, John Hagan and Jenny Cha.