Oct 2024
Conyers acted as Cayman Islands legal counsel to Nasdaq-listed Collegium Pharmaceutical, Inc. (“Collegium”) on its merger with Ironshore Therapeutics Inc. (“Ironshore”), a privately-held pharmaceutical company that markets and distributes medicine for the treatment of attention deficit hyperactivity disorder.
The transaction, which completed on 3 September 2024, represents a significant advancement in Collegium’s mission of building a leading, diversified specialty pharmaceutical company by expanding its business beyond pain management and establishing a commercial presence in neurology.
Under the terms of the merger agreement, Collegium acquired all the outstanding shares of Ironshore for US$525 million in cash, with the potential for an additional US$25 million commercial milestone payment. The consideration was funded by US$200 million of Collegium’s existing cash on hand and US$325 million of Collegium’s US$646 million term loan provided by investment funds managed by Pharmakon Advisors, LP.
Partner Matthew Stocker, along with Associates Caroline Dekker, Farrah Miller and Daniella Carrazana of Conyers’ Cayman office advised on the Cayman Islands legal and regulatory aspects of the transaction, alongside Hogan Lovells and Goodwin Procter LLP as US legal counsel to Collegium.