We advised Guide Therapeutics (GuideTx), a developer of nonviral drug delivery vehicles for genetic medicines, on its acquisition by biotech company Beam Therapeutics. Under the terms of the merger agreement, Beam paid upfront consideration of $120 million, excluding customary purchase price adjustments, in Beam common stock.
In addition to the upfront payment, GuideTx stockholders will be eligible to receive up to an additional $320 million in technology and product success milestone payments, payable in Beam common stock. Additional financial details were not disclosed.
The Orrick team advising GuideTx was led by David Schulman and includes Eric Wall, David Gold, Michael Wiesner, Mark Mushkin, Heather Behrend, Davis Doherty, Yuan Tian and Karen Cannon.