Attorneys in the Corporate & Securities Section and Life Sciences Practice of Mintz, Cohn, Ferris, Glovsky and Popeo, P.C. represented Naurex Inc., a clinical-stage biopharmaceutical company developing transformative therapies for challenging disorders of the central nervous system, in its merger with leading global pharmaceutical company, Allergan PLC. The merger was announced on July 26.
Allergan will acquire Naurex for a $560 million upfront payment net of cash acquired, $460 million of which is payable upon the closing of the acquisition and $100 million of which is payable by January of 2016 as well as potential R&D success-based and sales-threshold milestone payments. As part of the transaction, Naurex’s platform was spun out into a new company which will enter into a research collaboration with Allergan.
A Mintz team led by Jeffrey M. Wiesen, Chair of the firm’s Life Sciences Practice, Michael L. Fantozzi, Managing Member of Mintz’s Boston office and Division Head for the firm’s Corporate & Securities Section, and Ran Zioni a Member of the Corporate & Securities Section represented Naurex in this transaction.
Mintz has served as one of the leading law firms to the life sciences industry since the industry’s birth in the 1970s. Today, the firm advises hundreds of businesses and other organizations in all sectors of the industry’s ecosystem -- from start-ups looking for their first funding to public companies with products on the market, as well as venture capital firms, investment banks, and research and academic institutions. Mintz attorneys provide experienced counsel to clients globally in a broad range of matters, including corporate finance and securities, mergers and acquisitions, licensing and collaborations, intellectual property, litigation, regulatory, antitrust, employment and benefits, bankruptcy and commercial lending, immigration, and real estate. Mintz is a full-service law firm comprised of 500 attorneys with eight offices (Boston, New York, San Diego, San Francisco, Washington, Stamford, Los Angeles, and London) and an affiliate relationship in Israel.