Brown Rudnick advises Midatech Pharma in proposed acquisition of DARA BioSciences
PUBLISHED ON: 06/16/2015
LONDON (16 June 2015) – International law firm Brown Rudnick LLP has advised Midatech Pharma, an international pharmaceutical company with a diversified portfolio of high-value products in development, on its proposed acquisition of DARA BioSciences, a NASDAQ-listed oncology supportive care pharmaceutical company based in North Carolina.
Tim Matthews, Partner in the Corporate Practice in London, led a team of Brown Rudnick lawyers based on both sides of the Atlantic. He acted for Oxford-based Midatech on its admission to AIM and simultaneous acquisition of Q Chip Ltd in December 2014. Midatech will now also list on NASDAQ.
The proposed acquisition will give Midatech immediate access to a revenue-generating product portfolio in cancer supportive care, with multiple growth catalysts, and will accelerate Midatech’s transition to an oncology-focussed speciality pharma company. It also provides a strong commercial foothold in the US, which will enable the Group to distribute, market and sell its self-developed products, including Q-Octreo, in the world’s largest and most profitable pharmaceutical market.
Tim Matthews commented: “The acquisition of DARA BioSciences is an excellent strategic fit for Midatech. The deal is particularly significant from a legal perspective in that it involved a UK takeover of a US company with a dual listing on AIM and NASDAQ, which is still surprisingly rare. Midatech also valued our cross-border experience involving a close-knit team of lawyers on both sides of the Atlantic.”
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About Brown Rudnick LLPBrown Rudnick, an international law firm with offices in the United States and Europe, represents clients from around the world in high-stakes litigation, international arbitration and complex business transactions. Clients include public and private corporations, multinational Fortune 100 businesses and start-up enterprises. The Firm also represents investors, as well as official and ad hoc creditors’ committees, in today’s largest corporate restructurings, both domestically and abroad. Founded more than 60 years ago, Brown Rudnick has over 230 lawyers providing advice and services across key areas of the law. Beyond the United States, the Firm regularly serves clients in Europe, the Middle East, North Africa, the Caribbean and Latin America. With its Brown Rudnick Center for the Public Interest, the Firm has created an innovative model combining its pro bono, charitable giving and community volunteer efforts.