Innoviva Agrees to Acquire Controlling Stake in Armata Pharmaceuticals

April 10, 2020

Willkie represented Innoviva in the deal, which was structured as a two-tranche private placement.

On January 27, 2020 Willkie client Innoviva, Inc., a company with a portfolio of royalties that include respiratory assets, entered into a purchase agreement to acquire a controlling stake in Armata Pharmaceuticals, Inc., a biotechnology company focused on precisely targeted bacteriophage therapeutics for antibiotic-resistant infections. The transaction was structured as a two-tranche private placement. The first tranche of the investment closed on February 12, 2020 and the second tranche of the investment closed on March 27, 2020, following a shareholder vote.

The deal was handled by partners Russell Leaf and Jared Fertman, and associates Jonathan Kubek, Maryam Naghavi and Megan Levy.