Ropes & Gray Advises Bain Capital in the Creation of Cerevel Therapeutics with Pfizer
Bain Capital, LP and Pfizer Inc. today announced the creation of Cerevel Therapeutics, LLC, a new biopharmaceutical company focused on developing drug candidates to treat disorders of the central nervous system. Funds advised by Bain Capital Private Equity and Bain Capital Life Sciences have committed $350 million with the ability to provide additional capital should it be needed in the future. Pfizer is contributing a portfolio of pre-commercial neuroscience assets and will retain a 25 percent equity position in Cerevel.
Headquartered in the Greater Boston area, Cerevel will seek to expand treatment options in a therapeutic area where there is an unmet need for patients, contributing to the broad scientific understanding of both Alzheimer’s and Parkinson’s.
The Ropes & Gray team was led by securities & public companies partner Thomas Holden, life sciences partners Marc Rubenstein and Michael Beauvais, private equity partners Will Shields and Laura Steinke, tax partner Amanda Holt and IP transactions partners Melissa Rones and Megan Baca.