Covington‑Led Transaction Named a 2026 Middle‑Market Deal of the Year by Mergers & Acquisitions Magazine

NEW YORK—Covington’s representation of BioCryst in its $920 million acquisition of Astria Therapeutics received an honorable mention by Mergers & Acquisitions Magazine in its list of “2026’s Mid-Market Deals of the Year,” part of its 19th Annual Mid-Market M&A Awards. These transactions stood out “in a year marked by major headwinds for dealmakers, driven in large part by shifting economic policy and geopolitical turbulence.” 

Covington advised BioCryst Pharmaceuticals in its acquisition of Astria Therapeutics, which commercializes ORLADEYO® (berotralstat), the first oral, once-daily plasma kallikrein inhibitor for hereditary angioedema (HAE) prophylaxis. This transaction added Astria's lead product candidate navenibart, an injectable, long-acting, monoclonal antibody for HAE prophylaxis.

The Covington corporate team was led by Jack Bodner, Andrew Ment, Gustavo Akkerman, Charlie Dobb, Olivia Xie, Sara Khan, Alexa Walker, and Louise Lu.

Mergers & Acquisitions Magazine, founded in 1965, is the oldest trade brand for the dealmaker community. Private equity professionals, strategic acquirers, and advisors like investment bankers, lawyers, and consultants all rely on M&A for news, analysis, data, and community around deals and dealmakers.