Kirkland & Ellis’s leading M&A practice has advised global biopharmaceutical company Bristol Myers Squibb on its $4.1bn acquisition of oncology specialists Turning Point Therapeutics.

The deal will give New York-headquartered Bristol Myers Squibb access to Turning Point’s pipeline of investigational medicines that are designed to target the most common cell mutations that can lead to cancer. Cooley advised Turning Point on the transaction, which is expected to close during the third quarter.

Giovanni Caforio, chair and CEO of Bristol Myers Squibb, said: “The acquisition of Turning Point Therapeutics broadens our leading oncology franchise by adding a best-in-class, late-stage precision oncology asset. With this transaction, we are continuing our strong track record of strategic business development to further enhance our growth profile.”

Kirkland’s team was led by New York-based corporate partners Jonathan Davis, Steven Li and Daniel Wolf and associate Rebecca Roach, supported by capital markets partner Sophia Hudson, technology and IP transactions partners Lisa Samenfeld and San Francisco-based Amber Harezlak and IP litigation partner Patricia Carson.

Cooley’s team was led by M&A practice co-chair Barbara Borden and M&A partners Rowook Park, Charles Bair, Lindsey O’Crump, Vivian Tsai and Melissa Meza.

Athena Countouriotis, president and CEO of Turning Point, said: “Through this transaction, we will be able to harness the full potential of our precision oncology platform to advance the standard of care for cancer patients. With Bristol Myers Squibb’s leadership in oncology, strong commercial capabilities and manufacturing footprint, we will be able to further accelerate the pace at which we can bring our novel medicines to benefit people diagnosed with cancer around the world.”

Kirkland ranked fourth by deal value and second by deal volume in Refinitiv’s M&A advisory league tables during the first quarter of this year, having worked on 207 deals worth $119bn.

Cooley was ranked ninth by deal volume having worked on 76 deals worth just over $7bn.

It is the second pharma deal to hit the headlines over the past month following Pfizer’s $11.6bn acquisition of migraine pill maker Biohaven Pharmaceuticals in early May, with Ropes & Gray and Sullivan & Cromwell advising on the transaction.