Hogan Lovells advised Jazz Pharmaceuticals on its acquisition of Cavion
Silicon Valley, 12 August 2019– International Law firm Hogan Lovells represented global biopharmaceutical company Jazz Pharmaceuticals, plc in the acquisition of Cavion, Inc. through a merger with a Jazz subsidiary.
Under the terms of the agreement, the former Cavion shareholders receive an upfront payment of US$52.5 million and have the potential to receive additional payments of up to US$260 million upon the achievement of certain clinical, regulatory and commercial milestones, for a total potential consideration of US$312.5 million.
Cavion, a clinical-stage biotechnology company and now a wholly-owned subsidiary of Jazz, creates therapies aimed at modulating the T-type calcium channel for the treatment of chronic and rare neurological diseases. Cavion's lead molecule, CX-8998, has been evaluated in a Phase 2 randomized, placebo-controlled clinical study in patients with essential tremor.
Silicon Valley partner Keith Flaum led the Hogan Lovells team along with Corporate senior associate Annie Kang and associate Evan Orman. The Corporate team also included partner Adam Bellack, senior associates Tabisa Lane and Jeffrey Jay, and associates Jenny Hu, Ji An (Julian) Wang, Joel Dankwa, Summer Yuan, Katie Haines, and Max Scott.
Partner Susan Lee and associate Sally Gu advised on regulatory matters. Employee Benefits was handled by partner Michael Frank and senior associate Laura Szarmach, while the employment aspects were handled by counsel Tao Leung, senior associate Michelle Roberts Gonzalez and associate Nick Ladin-Sienne. Partner Brian Curran and associate Patrick Miller advised on international trade. Partner Michele Harrington advised on antitrust. Partner Jasper Howard and associate Catherine Chen advised on tax aspects of the transaction.