January 20, 2017

FaegreBD Represents CoLucid Pharmaceuticals in $960 Million Sale to Eli Lilly

Faegre Baker Daniels is representing CoLucid Pharmaceuticals, Inc., a public biopharmaceutical company, in a definitive agreement to be acquired by Eli Lilly and Company. The purchase price is a reported $960 million, and the transaction is expected to close in the first quarter of 2017 subject to customary closing conditions.

CoLucid was founded in 2005 and is developing lasmiditan oral tablets for the acute treatment of migraine headaches in adults and intravenous lasmiditan for the acute treatment of headache pain associated with migraine in adults in emergency room and other urgent care settings.

FaegreBD corporate partner Daniel Boeglin has represented CoLucid since it acquired exclusive worldwide rights to lasmiditan in 2005, and led the FaegreBD team representing CoLucid in three significant venture capital rounds.  Corporate partner Jonathan Zimmerman led the FaegreBD team in CoLucid’s 2015 initial public offering and 2016 public offering.

The FaegreBD team representing CoLucid in the sale to Eli Lilly is led by Corporate partners Jonathan Zimmerman and Jonathan Nygren and includes Corporate partners Daniel Boeglin and Christine Long and associates Miranda Hirner and Eli Isaacs.

Other FaegreBD attorneys contributed to the transaction team with work in securities, tax, employee benefits and compensation, health care & FDA, intellectual property, real estate, securities litigation and antitrust law. These teams included partners Jason Kimpel, Matthew Kilby, Lisa Pugh, Page Fleeger, Robert Leonard, Susan Kline, Paul Moe and Emily Chow; counsel Jason Sapsin, John Haveman and Amy Hamilton; and associates Jeffrey Justman, Mark Rosenfeld and Pablo Svirsky.

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