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October 14, 2005
LONDON, UK, October 14, 2005 - Covington & Burling assisted Medarex, the biopharmaceutical company focused on human antibody-based therapeutics to treat life-threatening and debilitating diseases, on the acquisition by its subsidiary Celldex Therapeutics Limited of privately held biotechnology company, Lorantis Ltd.
Celldex will acquire Lorantis for 6.8 million shares of Celldex common stock. Lorantis' assets include cash of approximately $30 million and a pre-clinical program based upon Lorantis' discovery of a fundamental immune mechanism that can selectively modulate immune response known as the Notch signalling pathway.
The Covington team was led by corporate lawyers Simon Goodworth and Simon Gamblin in London, and the Medarex team by Beth Behrend, Deputy General Counsel and Brad Middlekauff, General Counsel. Dwight A. Kinsey of Satterlee Stephens Burke & Burke advised on U.S .law aspects of the transaction.