Latham & Watkins Advises Revolution Medicines in Acquisition of EQRx, Inc. in All-Stock Transaction to Gain More Than US$1 Billion in Additional Capital

Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, and EQRx, Inc. (Nasdaq: EQRX) have announced a definitive agreement through which Revolution Medicines plans to acquire EQRx in an all-stock transaction intended to add more than US$1 billion in net cash to Revolution Medicines’ balance sheet. The total number of shares of Revolution Medicines common stock to be issued to EQRx security holders will be determined in close proximity to the closing of the stockholder votes on the transaction. The deal, which was overseen by independent committees of Revolution Medicines’ and EQRx’s respective boards of directors, has been approved by the directors of each company. The transaction, which is subject to customary closing conditions, will enhance Revolution Medicines’ efforts to fulfill its vision to discover, develop and deliver pioneering RAS(ON) Inhibitor drugs on behalf of patients with RAS-addicted cancers.

Latham & Watkins LLP represents Revolution Medicines in the transaction with a deal team led by Bay Area partners Mark Roeder, Joshua Dubofsky and John Williams and New York partner Ian Nussbaum. Rachel Ratcliffe led the team of associates which included Zuzanna Gruca, Dustin Davis, Ben Bouwman and Kevin Schunk. Advice was also provided on employee benefits and compensation by Bay Area partner James Metz and London partner Kendall Burnett, with associates Nimra Syed and Anna Cloke; on labor and employment matters by Chicago associate Laura Waller; on antitrust matters by Bay Area partner Josh Holian and Washington, D.C. counsel Patrick English; on intellectual property matters by Bay Area partner Chris Hazuka, with associates Jane Bentham, Robert Yeh, Billy Wu, and Nara Yoo; on FDA regulatory matters by Washington, D.C. partner John Manthei, Bay Area partner Betty Pang and Washington, D.C. counsel Monica Groat, with associate Emily Sachs; on connectivity, privacy and information by Bay Area partner Heather Deixler, on tax matters by Bay Area partner Grace Lee, with associate Jacob Meninga and Rasha Suleiman; on certain UK related matters by London partner Quentin Gwyer, and counsel Michael Beanland, with associates Chris Ramsey and Elliot Brownlee.