2 minute read | April.10.2024
First Wave BioPharma, Inc., a clinical-stage biopharmaceutical company, has acquired ImmunogenX in an all-stock transaction.
Orrick represented ImmunogenX.
ImmunogenX, Inc. is a clinical-stage company founded in 2013 and supported by a team of world renowned scientists and collaborators. ImmunogenX was formed to address critical needs for individuals with suspected or diagnosed celiac disease.
First Wave BioPharma specializes in developing targeted, non-systemic therapies for gastrointestinal (GI) diseases. The company is headquartered in Boca Raton, Florida.
The combined company will focus on advancing a GI pipeline comprised of multiple, late-stage clinical assets, including latiglutenase, a potentially first-in-class, near Phase 3-ready, targeted, oral biotherapeutic for celiac disease.
First Wave BioPharma intends to license the commercial rights to latiglutenase in the United States and Canada to a strategic global pharmaceutical company which will commercialize latiglutenase following receipt of marketing approval. First Wave BioPharma will also seek to secure financing commitments from a syndicate of institutional healthcare investors to fund the ongoing development of latiglutenase.
“Completion of the acquisition of ImmunogenX and the addition of latiglutenase to our clinical pipeline is a transformative event for First Wave BioPharma as it provides our company with a Phase 3-ready asset in a multibillion-dollar GI market – celiac disease – for which no approved pharmacologic treatment currently exists,” First Wave CEO James Sapirstein said in a statement.
David Schulman led the Orrick team that advised ImmunogenX. The team also included Audrey Schricker, Josh Steiman, Lorenzo Lista and Tiffany Chiu Leung.