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.
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.
