May 07, 2021
Science 37, Inc. (Science 37), developer of the Decentralized Clinical Trial Operating SystemTM, and LifeSci Acquisition II Corp. (NASDAQ: LSAQ) (LifeSci), a blank check company targeting the biopharma, medical technology, digital health, and healthcare services sectors, have announced that they have entered into a definitive business combination agreement. Upon closing of the proposed transaction, the combined company will operate as Science 37 and is expected to be listed on the NASDAQ under the ticker symbol “SNCE.” The proposed transaction values Science 37 at an initial enterprise value of approximately US$1.05 billion and will provide the combined company with approximately US$250 million of cash (assuming no redemptions from LifeSci’s trust account), to fuel continued growth.
Latham & Watkins LLP represents Science 37 in the transaction with a corporate deal team led by Houston M&A partners Ryan Maierson and Thomas Brandt and New York capital markets partner Erika Weinberg, with Houston associates Denny Lee, Kate Wang, Jacob Weiner, and Carlyle Reid and New York associate Taylor Stevens. Advice was also provided on tax matters by Century City partner Pardis Zomorodi, with Los Angeles associate Abigail Friedman; on benefits and compensation matters by Bay Area partner Julie Crisp, with Washington, D.C. associate Courtney Thomson; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson, with Bay Area associate Ryan Sanders; on healthcare and life sciences matters by Washington, D.C. partner Ben Haas, with New York associate Lacey Henry; on data privacy matters by Washington, D.C. partner Jennifer Archie, with Washington, D.C. associate Jimmy Smith; and on compliance matters by London partner Nathan Seltzer.