Arnold & Porter Advises Pfizer on Creation of Neuroscience Biopharmaceutical Company Cerevel Therapeutics
Arnold & Porter advised Pfizer Inc. (Pfizer) on its joint creation of Cerevel Therapeutics, LLC (Cerevel), a new biopharmaceutical company focused on developing drug candidates to treat central nervous system disorders (CNS), with Bain Capital, LP (Bain Capital). Pfizer is contributing a portfolio of pre-commercial neuroscience assets to Cerevel and will retain a 25% equity position in the company, while Bain Capital's affiliated funds have committed $350 million with the ability to provide additional capital if needed.
Cerevel will expand treatment options for CNS disorders including Parkinson's, Alzheimer's, epilepsy, schizophrenia and addiction. Pfizer and Bain Capital will support Cerevel in establishing a dedicated team of CNS scientists and experienced life sciences executives, and Cerevel will continue to develop Pfizer compounds and active programs in early development, discovery and a research program in neuroinflammation.
The Arnold & Porter transaction team was led by Corporate and Finance partners Lowell Dashefsky and Aaron Gardner and associate Danielle Rosato with support from Tax partner Laurie Abramowitz and associates Sarah Soloveichik and Zeno Houston.