McDermott Represents Poxel on its Strategic Agreement with Roivant to Develop Diabetes Drug Imeglimin in the US, Europe and Additional Countries Worldwide
PARIS (13th February 2018) – International law firm McDermott Will & Emery has represented Poxel, a biopharmaceutical company, on the signing of a strategic development and licensing agreement with Roivant, a global healthcare company. The deal allows Roivant to develop and commercialize Poxel’s drug Imeglimin, a treatment for type 2 diabetes, in the US, Europe and all other countries outside of existing Asian markets.
Under the terms of the agreement, Poxel is entitled to receive an upfront payment of $35 million (approximately €28 million) and Roivant will invest $15 million (approximately €12 million) in Poxel through a subscription to 1,431,399 newly-issued ordinary shares at €8.5 per share.
The McDermott Will & Emery team representing Poxel was led by Paris based partner Emmanuel Trombe who was assisted by Christine Wahr, associate, who is based in Boston.
McDermott’s lawyers in the United States and Europe, in conjunction with MWE China Law Offices, have successfully negotiated and closed hundreds of deals on behalf of life sciences businesses worldwide. Ranked nationally for M&A, health and life sciences by Chambers USA and The Legal 500, we counsel clients whose products include medical devices, biotechnology and pharmaceuticals. The size and scope of our clients’ operations are equally diverse; we represent start-ups, large multinationals, and venture capital, private equity and large public investor funds around the globe.
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.