Transaction Case Studies

Global Development and Commercialization Agreement for Novel Cancer Therapeutic

Situation Assessment

• Ascenta is a privately-held, clinical stage biopharmaceutical company dedicated to the discovery and development of novel orally- active, small molecule drugs that restore the natural potential for cancer cells to undergo cell death (apoptosis).
• Lead program, AT-406, a novel multi-IAP inhibitor, currently in dose escalating phase 1 clinical testing.
• Engaged Locust Walk Partners as its exclusive business and corporate development advisor.

Key Activities

• Revised and prepared high impact teaser and management presentation
• Led an outreach to >80 leading global and regional companies, both publicly traded and privately held, that are active in the development and commercialization of oncology products.
• Created forecast model for early stage targeted oncology asset, which aided in deal negotiations and offer comparison
• Led multiple parties through a confidential diligence process leading to competing term sheets.
• Conducted face-to-face negotiations of the term sheet and definitive agreement.

Successful Outcome

• Competitive process resulted in multiple term sheets and an exclusive global partnership for AT-406.

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