PALO ALTO, CA--(Marketwired - October 31, 2016) - Cooley advised Myovant Sciences on its $218 million initial public offering – the largest biotech IPO of the year. The company now trades on the New York Stock Exchange under the symbol "MYOV."
Myovant, a Cooley client since its formation, is a biopharmaceutical company focused on the innovative treatment of women's health diseases and other endocrine-related disorders in areas of high unmet medical need, and improving the lives of millions of patients suffering from these diseases.
In addition to advising on the company's formation, Cooley advised on Myovant's exclusive license from Takeda Pharmaceuticals of the drug candidates that were the basis of Myovant's launch. Takeda granted Myovant exclusive, worldwide licenses (excluding Japan and certain other Asian countries) to two drug candidates – relugolix (TAK-385), a phase 3 drug candidate that has successfully demonstrated significant clinical benefit for uterine fibroids, endometriosis and prostate cancer, and RVT-602 (TAK-448), a novel product candidate for the treatment of infertility in females.
In June 2015, Cooley advised Axovant Sciences on its $362 million IPO, reportedly the largest pre-commercial stage biotech IPO to date. Axovant and Myovant are majority owned subsidiaries of Roivant Sciences.
The Cooley corporate securities team advising Myovant was led by partners Frank Rahmani and John McKenna and included associates Alison Haggerty and Jason Saxe. The licensing team included partners Barbara Kosacz and Marya Postner and special counsel Marjorie Wagman. Support for the offering was provided by partners Greg Tenhoff (employment), Barbara Mirza (compensation and benefits) and Natasha Leskovsek (health care and life sciences regulatory).
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