Clyde & Co advises on the sale of Chronos Therapeutics to Evgen Pharma

Clyde & Co has advised the majority shareholders on the sale of Chronos Therapeutics Limited ("Chronos") to Evgen Pharma plc, a clinical stage drug development company ("Evgen"). This is pursuant to an agreement dated 19 March 2024, involving upfront equity, deferred equity or loans and additional mid-term development milestones.

Chronos, a biotech company headquartered in Oxford, operates a semi-virtual research and development model to develop degenerative and behavioural brain disease therapies.

The transaction will merge Chronos’ leading drug development programmes in pre-clinical neuropsychiatry, including assets that sit within a resurgent area for Big Pharma, with those of Evgen.

The Clyde & Co team was led by Simon Gamblin, a partner in the firm’s London corporate team, supported by corporate associate Reem Katifi and tax senior associate Farhad Shahidi.

Simon comments: “We are delighted to have assisted in the strategic acquisition of Chronos by Evgen which, in integrating Chronos' neuropsychiatry assets, will enable former Chronos shareholders to participate in Evgen’s diversified portfolio as it positions itself for significant advancements in the sector.”

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