Ignyta, Inc. Advised in its Acquisition from Lilly of Exclusive Rights to Taladegib Oncology Program

Exclusive license of worldwide rights relating to Eli Lilly and Company's taladegib oncology development program in exchange for an upfront payment of $2.0 million in cash and the issuance to Lilly of approximately 1.2 million shares of Ignyta's common stock.

November 9, 2015

California-based Ignyta, Inc., a precision oncology biotechnology company, has announced the exclusive license of worldwide rights relating to Eli Lilly and Company's taladegib oncology development program in exchange for an upfront payment of $2.0 million in cash and the issuance to Lilly of approximately 1.2 million shares of Ignyta's common stock. The license agreement also includes development and sales milestones. Concurrently with the license, Ignyta entered into a stock purchase agreement with Lilly under which Lilly will purchase a further 1.5 million shares of Ignyta common stock at a price of $20 per share in a private placement.  Latham & Watkins LLP represents Igntya in the transactions with a corporate team led by partners Cheston Larson and Steven Chinowsky, with counsel Darryl Steensma and associate Christopher Geissinger, in the firm’s San Diego office.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.