Cases & Deals

Share

sanofi-aventis acquires BiPar Sciences

April 2009

Client(s) sanofi-aventis S.A.

Jones Day advised sanofi-aventis in connection with a competitive auction to acquire BiPar Sciences, Inc., a privately held biotech company located in Brisbane, California. BiPar's key product is BSI-201, an experimental cancer therapy currently in mid-stage trials for advanced breast cancer, ovarian cancer and other tumors.

Sanofi-aventis acquired BiPar in a merger transaction with one of its U.S. subsidiaries for up to $500 million in cash. The final purchase price will depend on how well BSI-201 performs in further trials, and on whether the drug makes it to market.

Jones Day worked with sanofi-aventis to develop a payment structure that conditions payment of a significant portion of the merger consideration based on the achievement of specific milestone events. The structure of the deal reflects a growing trend in pharmaceutical M&A, in which large drug makers seek to lessen the risk of costly investments in experimental products that may not fulfill their initial promise.

M&A, IP, Employee Benefits, Tax, and Antitrust attorneys in the Firm's New York, Silicon Valley, and Washington offices worked together to advise sanofi-aventis on various aspects of the transaction.

Before sending, please note:

Information on www.jonesday.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.