Eli Lilly Enters Into Agreement to Acquire Sangamo Assets as Stalking Horse Bidder in Chapter 11 Auction

Paul, Weiss is advising Eli Lilly and Company as a stalking horse bidder in its pending acquisition under Section 363 of the U.S. Bankruptcy Code of certain assets from Sangamo Therapeutics, Inc., a genomic medicine company, as part of Sangamo’s voluntary chapter 11 proceedings. In its role as a stalking horse bidder in the deal, Lilly entered into an agreement to acquire Sangamo’s capsid delivery platform, zinc finger platform, modular integrase platform and prion disease program, subject to certain closing conditions and no higher bidder emerging during the chapter 11 proceedings.

The Paul, Weiss team is led by partners Chelsea Darnell, Krishna Veeraraghavan, Jeffrey Osterman, Meggin Bednarczyk and Jacob Adlerstein, and includes corporate counsel David Clements; restructuring partner Lauren Bilzin and counsel Douglas Keeton; tax partner Scott Sontag; executive compensation partners Matthew Friestedt and Sally Ye; and litigation counsel Audrey Paquet.