CMS Cameron McKenna advises biotechnology company Antisoma on acquisition
29.05.2008
CMS Cameron McKenna advised cancer-focused biotechnology company Antisoma on its acquisition of private US oncology company Boston-based Xanthus Pharmaceuticals, Inc. in an all-share deal valued at £26.8 million. At the same time, Antisoma carried out a US/European fundraising that will add an additional £20.1 million (before expenses) to its existing cash resources.
Headquartered in London, Antisoma’s core activity is the preclinical and clinical development of these drug candidates. Glyn Edwards, CEO of Antisoma, said: “This is a transforming deal. Combining Antisoma and Xanthus produces a company with the critical mass and mature pipeline needed to become a major player in oncology.”
The CMS Cameron McKenna team was led by Corporate partner Michael Draper and assisted by Simla Ramdayal and Laura Templeman from Corporate. Baker & McKenzie advised Antiosoma on US law and WilmerHale advised the target company and its shareholders.
Michael Draper said: “We are delighted to have had the opportunity once again to advise Antisoma on such a significant transaction”.
CMS Cameron McKenna has a burgeoning Lifesciences practice and in 2007, amongst others, the practice advised:
- Antisoma on its placing of further shares on the London Stock Exchange to raise £26.3m
- Pfizer on the UK and Central European aspects of the disposal of its consumer healthcare division to Johnson & Johnson for US$16.6 billion
- Wellcome Trust
on its issue of £550 million bonds, listed on the London Stock Exchange
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