Ropes & Gray represented Cyclerion Therapeutics, a biopharmaceutical company focused on developing treatments for neuropsychiatric diseases, in its entry into a definitive merger agreement for an all-stock transaction with Korsana Biosciences, a privately held biotechnology company discovering and developing novel therapies to reduce the burden of neurodegenerative diseases. Upon completion of the transaction, the combined company plans to operate under the name Korsana Biosciences, Inc. and trade on Nasdaq under the ticker symbol “KRSA.” The deal was announced on April 1.
In support of the proposed merger, Korsana has secured commitments for an oversubscribed private investment that is expected to result in total gross proceeds of approximately $380 million from a syndicate of investors.
The Ropes & Gray team was led by strategic transactions partners Will Michener and Zach Blume and included executive compensation & employee benefits partner Renata Ferrari and tax partner Pamela Glazier.
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