Foresite Capital Acquires Pardes Biosciences

Paul, Weiss advised MediPacific, Inc., a Foresite Capital Management company, in its acquisition of Pardes Biosciences, Inc. Pardes, a developer of novel oral antiviral therapeutics for life-threatening diseases, including COVID-19, is now a subsidiary of MediPacific.

Under the deal terms, MediPacific acquired Pardes for $2.13 per share in cash, plus a non-tradeable contingent value right associated with any future monetization of Pardes’ COVID-19 antiviral portfolio and related intellectual property.

The Paul, Weiss team was led by corporate partners Austin Pollet, Jeffrey Marell and Luke Jennings, and included corporate partner Lindsey Wiersma and counsel Usman Arain, Laura Schnaidt and Jason Tyler; tax partners Matthew Jordan and Patrick Karsnitz; executive compensation partner Andrea Wahlquist Brown; intellectual property partner Jonathan Ashtor; litigation partner Andrew Gordon and counsel Steven Herzog; and antitrust counsel Marta Kelly.