Infinity Pharmaceuticals, Inc.

Client Profile

Founded in 1995 and headquartered in Cambridge, MA, Infinity combines proven scientific expertise with a passion for developing small-molecule drugs that target specific disease pathways for potential applications in oncology. The Company is focused on advancing a first-in-class, orally administered, clinical-stage, immuno-oncology drug candidate based on its unique macrophage reprogramming mechanism of action.

Situation

The Company identified a merger target that would have provided additional liquidity and resources to conduct a Phase 2 study of the Company’s lead drug candidate. However, an activist shareholder campaign prevented the merger target from obtaining stockholder approval to complete the contemplated transaction. Due to the failed merger and lack of liquidity, Infinity filed for Chapter 11 relief in September 2023.

Solution

SSG was retained in July 2023 to conduct a marketing process and solicit offers from potential strategic and financial acquirers. After extensive marketing and discussion with numerous interested parties, the bid submitted by the healthcare investment firm was determined to be the highest and best offer for substantially all the Company’s assets. SSG’s extensive Chapter 11 transaction experience and knowledge of the industry resulted in a process where value was maximized in an expedited time frame.