Press Release

Kirkland Advises TerSera Therapeutics on Purchase of XERMELO from Lexicon Pharmaceuticals

Kirkland & Ellis advised TerSera Therapeutics LLC on an asset purchase and sale agreement for the purchase of the rights, title and interest in XERMELO® (telotristat ethyl) from Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX).  Pursuant to the terms of the agreement, TerSera will pay Lexicon approximately $159 million in cash at closing, which includes a $155 million upfront payment and approximately $4 million for existing inventory. XERMELO is the first and only approved oral therapy for carcinoid syndrome diarrhea, and has a potential future role in other cancers.

Read the Lexicon press release

The Kirkland team was led by transactional partners Sanford E. Perl (Sandy), Michael Weed and Chris Thomas, and associates Kyle McHugh and Edward Brennan; and included transactional associate Sarah Loiselle; tax partners Russell Light and Polina Liberman, and associate Natalie Kannan; debt finance partner Jocelyn Hirsch, and associates Sean Hilson and Neal Loughery; antitrust & competition partners Ian John, Chuck Boyars and Sarah Jordan, and associate Chris Boyd.