Fenwick Represents Morphic in Acquisition by Eli Lilly

Fenwick is representing Morphic Holdings, Inc. (Nasdaq: MORF), a biotechnology company developing the next generation of oral integrin therapies for the treatment of serious chronic diseases, in its pending acquisition by Eli Lilly and Company (NYSE: LLY).

Under the terms of the agreement, Eli Lilly will initiate a tender offer to acquire all the outstanding shares of Morphic for $57 per share, for an aggregate value of approximately $3.2 billion. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. More information can be obtained from Morphic’s announcement.

The Fenwick transaction team included corporate partners Effie Toshav, Doug Cogen, David Michaels, Victoria Lupu, Rob Freedman and Julia Forbess and associates Rob O’Connor, Beth Clarke, Philip Ewing, Jing Liu, Susan Lee, Sammi Chen and Raffi Terteryan; technology transactions partner Stefano Quintini and associates Jennifer Yoon, Kehl Sink, Sam Dodson, Rob Ferrari, Taylor Muentener, Kristen Rovai and advisor Sandra Weustink; patent partner Antonia Sequeira and associate Elly Chow Schultz; executive compensation and employee benefits partners Matt Cantor and Liz Gartland and associate Cynthia Yuan; antitrust partner Tom Ensign and associates Elizabeth Suarez and Kaylynn Moss; healthcare regulatory partner Jennifer Yoo and associate Stephanie Maynes Aldous; privacy counsels Melanie Jolson and Sari Ratican; and tax partner William Skinner and associate Matthew Dimon.