Sidley Represents Eiger Biopharmaceuticals in Chapter 11 Filing

Sidley represented Eiger Biopharmaceuticals, Inc., a Palo Alto, California-based biopharmaceutical company that develops treatments for rare metabolic diseases, in its filing for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas, on April 1, 2024.

The company announced in a statement that Sentynl Therapeutics, Inc. has agreed to provide a US$30 million stalking horse bid for one of its products, Zokinvy , which is the only approved treatment for Hutchinson-Gilford progeria syndrome, an ultra-rare and fatal disease affecting children. The company filed Chapter 11 to ensure the continued supply of this important drug and to enable it to continue the development of its other pharmaceutical products.

On April 3, 2024, the Bankruptcy Court approved all the company’s requested “first-day” relief, including its requested bid procedures and use of cash collateral to continue its uninterrupted operations.

The team included Tom Califano, Bill Curtin, Charles Persons, Anne Wallice, Nathan Elner, Parker Embry, Jake Landreth, Raphael Rabinowitz, Amanda Rahie, Chelsea McManus, Veronica Courtney, Daniela Rakowski, and law clerk Samson Su (Restructuring); Carlton Fleming (Emerging Companies and Venture Capital); Suresh Advani and Daniel Altman (Tax); Istvan Hajdu and Kyle Patel (Capital Markets); BinQuan Zhuang and Taylor Todd (M&A); and Walter Carlson (Securities and Shareholder Litigation).