As deal making in the life sciences industry sought to rebound in 2011, the Life Sciences Practice of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. played an integral role in a number of notable transactions, representing life sciences industry clients in more than 60 deals with an aggregate value of over $3 billion. With one of the largest and deepest life sciences practices in the country, the Firm handled over 10 mergers and acquisitions, 15 public offerings, 20 venture capital transactions, and 15 transactions involving joint ventures, strategic alliances, collaborations or significant licensing agreements for clients in the industry.
“While 2011 continued to present a number of challenges for deal making in the life sciences industry, there were several signs of optimism, including a number of successful public offerings and rather robust M&A activity, which is a continuation of the trend we saw in late 2010 with the sales of our clients Ion Torrent to Life Technologies and FoldRx to Pfizer,” said Bill Whelan, Co-Chair of the Life Sciences Practice Group. “Although a number of factors will determine the level of deal activity in 2012, the strong increase in investment in life sciences companies in 2011, with year over year gains topping 20 percent, indicates that there is still a willingness to invest in new and promising technologies.”
Some of Mintz Levin’s notable recent transactions for the life sciences industry included:
- Public Offerings - Represented ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) in its December 2011 $258 million underwritten public offering; represented Rib-X Pharmaceuticals, Inc. in its IPO filing of November 2011; represented BG Medicine, Inc. (NASDAQ: BGMD) in its February 2011 $40 million IPO; represented GI Dynamics, Inc. (ASX: GID) in its September 2011 Australian IPO and contemporaneous US private placement which raised a combined $85 million;
- Mergers and Acquisitions - Represented Caliper Life Sciences, Inc. (NASDAQ: CALP) in its December 2011 sale to PerkinElmer Inc. (NASDAQ: PKI) for $600 million; represented Orchid Cellmark Inc. (NASDAQ: ORCH) in its December 2011 sale to LabCorp (NASDAQ: LH) for $85 million; represented Myriad Genetics, Inc. (NASDAQ: MYGN) in its May 2011 acquisition of Rules-Based Medicine, Inc. for $80 million and its September 2011 option to acquire Crescendo Bioscience, Inc.;
- Venture Capital – Represented Sera Prognostics in its November 2011 $19.3 million Series A financing led by InterWest Partners and Domain Associates; represented Lotus Tissue Repair, Inc. in its June 2011 $26.5 million Series A financing led by Third Rock Ventures; represented Pulmatrix, Inc. in its August 2011 $14 million Series B financing by Polaris Venture Partners, 5AM Ventures, Arch Venture Partners, and Novartis Venture Fund; and
- Joint Ventures, Strategic Alliances, Collaborations and Licensing Agreements – Represented ArQule Inc. (NASDAQ: ARQL) in its November 2011 $265 million (including milestones) agreement with Daiichi Sankyo Co. Ltd.; represented BeiGene, Inc. in its October 2011 and September 2011 agreements with Janssen Pharmaceutica NV; and represented Intarcia Therapeutics, Inc. in its December 2011 strategic alliance with Quintiles.
Mintz Levin has represented life sciences clients since the industry’s inception in the 1970s, and currently represents more than 400 businesses and other organizations in all sectors of the industry. The Firm has been described by Chambers USA as “a leading life sciences brand” and is ranked in the top tier nationally by U.S. News and World Report/Best Lawyers. The Firm’s life sciences clients include biotechnology, medical device, medical technology, healthcare IT, and pharmaceutical companies; venture capital firms and investment banks; and research institutes and institutions of higher education located throughout the U.S., Europe, Asia, and the Middle East in a broad range of transactional, regulatory, counseling, and intellectual property matters.
For more information about Mintz Levin, please visit www.mintz.com.
Gina Addis, 617-348-4413
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