Fenwick Represents Chinook Therapeutics in Acquisition by Novartis AG

Fenwick is representing Chinook Therapeutics, Inc. (Nasdaq: KDNY), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for severe kidney diseases, in its acquisition by Novartis AG (NYSE: NVS).

Under the terms of the agreement, Novartis will acquire all the outstanding shares of Chinook for up to $3.5 billion, a portion of which is contingent on the achievement of certain milestones. The transaction is expected to close in the second half of 2023, subject to customary closing conditions. More information can be obtained from Chinook’s Announcement.

The Fenwick transaction team included corporate partners Effie Toshav, Doug Cogen, David Michaels, Amanda Rose and Ryan Mitteness and associates Chris Gorman, Brendan Montgomery, Christina Scully, Frances Fuqua, Jing Liu, Bryan Willard, Steven Jean, Kate Souza and Seena Razavi; technology transactions partners Stefano Quintini and Jake Handy and associates Jennifer Yoon, Kehl Sink, Pinar Bailey, Ju Yun (Julie) Son and Catherine Kim; executive compensation and employee benefits partner Matt Cantor and associate Christophe Delrieu; tax partner Adam Halpern and associate Einav Axler; antitrust partner Steve Albertson and associate Erica Sutter; and international trade partner Melissa Duffy and associate Julia Kuelzow.