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August 26, 2013
NEW YORK, August 26, 2013 — Covington & Burling is advising MedImmune, AstraZeneca’s global biologics research and development arm, on the acquisition of Amplimmune, a privately held biologics company focused on developing novel therapeutics in cancer immunology.
Under the terms of the merger agreement, MedImmune will acquire Amplimmune shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones. The acquisition will bolster MedImmune’s oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio, including AMP-514, an anti-programmed cell death 1 (PD-1) monoclonal antibody (mAb).
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. Amplimmune is a privately held, Maryland, US-based biologics company focused on developing novel therapeutics in cancer immunology.
The team was led by Stephen Infante, Amy Toro and Sara Needles, with assistance from Jessica Milner, Lina Gugucheva and Aisha Granville (IP and life sciences); Robert Newman and Jason Davis (employee benefits); Mike Labson and Robin Blaney (regulatory); Heather Haberl and Xiaowen Qian (real estate); Marialuisa Gallozzi (insurance); Robert Heller and Sarah Burnham (tax); Jen Plitsch (government contracts); and Leeor Baskin (corporate).