Shearman & Sterling represented Ultragenyx Pharmaceutical in purchasing 600,000 additional shares of common stock of Arcturus Therapeutics consistent with the Equity Purchase Agreement between the two companies. After completion of the new equity purchase, Ultragenyx owns 3,000,000 shares, or 14.6%, of Arcturus outstanding common stock and will continue to be its largest shareholder. Proceeds from the equity purchase will support Arcturus’s clinical programs, including the efforts to move its COVID-19 vaccine candidate into clinical testing this summer.
Based in Novato, California, Ultragenyx is a biopharmaceutical company providing patience with treatments of serious rare and ultra-rare genetic diseases. The company has a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment.
Founded in 2013, Arcturus is a clinical-stage mRNA medicines and vaccines company with enabling technologies based in San Diego, California.