BOSTON (March 30, 2017) – International law firm McDermott Will & Emery served as legal adviser to Neurovance, Inc., a Massachusetts-based, venture-funded, clinical stage pharmaceutical company focused on the development and commercialization of innovative therapies for attention-deficit hyperactivity and related disorders, in its acquisition on March 17 by a major Japanese pharmaceutical company. Under the terms of the merger agreement, Neurovance’s sellers received $100 million in upfront payments at closing, and will receive up to $150 million in additional payments contingent on achievement of development and approval milestones, as well as future additional payments contingent on achievement of sales milestones. Following the consummation of the transaction, Neurovance will be an indirect wholly-owned subsidiary of Otsuka Pharmaceutical Co., Ltd.
“Major life science companies continue to entrust McDermott Will & Emery with complex and often seminal transactions. We are pleased to be able to deliver our multidisciplinary, cross border solutions to our valued, life science clients,” noted Byron Kalogerou, Chair of the firm’s Life Science Industry Group.
About the Life Sciences Practice Group at McDermott Will & Emery 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 in the United States and abroad.
About McDermott Will & Emery McDermott Will & Emery is a premier international law firm with a diversified business practice, with more than 1,000 lawyers and offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.