• Background: Intergalactic Therapeutics, Inc. (“Intergalactic”), headquartered in Boston, MA, is a developer of non-viral gene therapies, focused on overcoming the major limitations of gene transfer by combining synthetic biology and precision engineering. In December 2023, Intergalactic filed for Chapter 11 bankruptcy protection.
  • Cassel Salpeter:
    • Served as investment banker to the company
    • Conducted a deliberate sales process, identifying and contacting nearly 100 global public and private companies, focused on ophthalmology or gene therapies
    • Ran a succesful auction, resulting in a winning bid with a value over 250% greater than the stalking horse bid
  • Challenges:
    • Company mothballed operations, leaving limited staff members for diligence inquires
    • Assisting parties in expedited review of intellectual property and related patents
  • Outcome: In March 2024, the court approved the sale of certain assets to Aldevron LLC (“Aldevron”), a subsidiary of Danaher Corporation (NYSE: DHR).  Aldevron engages in the custom production of biological products used in the fields of gene therapy and gene editing.