Ice Miller represented Voronoi, a South Korean public company, in its asset sales agreement with Anvia Therapeutics, a United States-based biotech company funded by Deerfield, one of the leading venture capital investors in the United States life sciences sector.

The transaction grants Anvia rights to VRN04, Voronoi’s oral RIPK1-targeting drug candidate under development for autoimmune, chronic inflammatory, and neurodegenerative diseases. The agreement was executed following Anvia’s exercise of an option granted to the company in 2024.

Under the terms of the deal, Voronoi will receive up to $14.5 million in upfront and milestone payments, payable in both cash and equity, along with royalty on net sales upon commercialization. As part of the upfront consideration, Voronoi received three million shares of Anvia common stock valued at $3 million. Additional milestone events will trigger further cash payments and share issuances. This transaction highlights the increasing recognition of RIPK1 as a therapeutic target and underscores Voronoi’s continued innovation in autoimmune and neuroinflammation therapies.

Ice Miller Business partner TaeSoo Sean Kim led the negotiations, with partners Dann Bruno and Daniel Corsaro assisting on the equity and tax components, respectively.