San Diego – September 27, 2019 – Cooley advised ArTara Therapeutics on its definitive agreement to merge with a wholly-owned subsidiary of Proteon Therapeutics in an all-stock transaction. Rama Padmanabhan, Karen Deschaine, Ryan Sansom, Ro Park and Lindsey Crump led the Cooley team representing ArTara.
The combined company will focus on advancing ArTara’s pipeline of transformative late-stage, de-risked rare and specialty diseases assets. It is expected to operate under the name ArTara Therapeutics and the parties have applied for the combined company to trade on the Nasdaq Capital Market under the symbol “TARA.”
In addition to the merger, Cooley advised ArTara on a concurrent $42.5 million financing led by a syndicate of healthcare dedicated investors who have entered into a stock purchase agreement to invest in the combined company. This financing will help fund the development of ArTara’s lead assets TARA-002 and IV Choline Chloride and is expected to be consummated concurrently with the closing of the merger transaction.
“We are excited about the opportunity for this merger, which will allow ArTara to help fill the void in treatment options for these two rare diseases and potentially address additional significant unmet need in other disease areas,” said Jesse Shefferman, CEO of ArTara, in a news release.
ArTara is a rare and specialty diseases therapeutics company focused on optimizing product candidates for patients suffering from diseases where there is a significant unmet need.
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