A collaborative Pillsbury team led by Life Sciences Corporate partner Jason Stirling and Insolvency & Restructuring partner Joshua Morse represented Sentynl Therapeutics, Inc., a U.S.-based biopharmaceutical company wholly owned by Zydus Lifesciences, Ltd., in the acquisition of Eiger Biopharmaceutical’s Zokinvy® (lonafarnib) program through a chapter 11 sale process where Sentynl served as the “stalking horse bidder” and ultimately prevailed in a competitive auction process. Key members of the Pillsbury team included Corporate associate Alex Graham, Insolvency & Restructuring partner Rahman Connelly and associate James Dickinson and Tax partner Brett Willis.

As part of the arrangement, Sentynl will acquire the global rights to Zokinvy and will be responsible for its manufacturing and commercialization. Eiger and its direct subsidiaries filed voluntary petitions for relief under chapter 11 of Title 11 of the United States Code in the U.S. Bankruptcy Court for the Northern District of Texas. The Bankruptcy Court approved Sentynl as the stalking horse bidder at Eiger’s “first day” hearing. Following the completion of an auction held as part of the Eiger’s court-supervised sale process, Sentynl was designated the winning bidder.

Zokinvy is the first and only treatment approved by the U.S. Food and Drug Administration to target the cause and symptoms of progeria, also known as Hutchinson-Gilford progeria syndrome (HGPS), and processing-deficient progeroid laminopathies (PDPL) in young people 12 months of age and older. Collectively known as progeria, HGPS and PDPL are ultra-rare, fatal, genetic premature aging diseases that accelerate mortality in young patients. Following its U.S. approval in 2020, Zokinvy secured approval in the European Union and Great Britain (2022) and in Japan (January 2024).

Click here to read the full joint press release of Sentynl and Eiger.

Corporate partner Christian Salaman’s longstanding relationship with Sentynl has resulted in Pillsbury advising Sentynl on acquisitions of key assets for the Sentynl portfolio. To learn more about Pillsbury’s previous transactional advice for Sentynl, click here, here and here.