Covington Advises Natrogen on Agreements with Takeda

Covington Advises Natrogen on Agreements with Takeda

December 20, 2013

WASHINGTON, DC, December 20, 2013 — Covington & Burling advised Natrogen Therapeutics International in its agreement with Takeda Pharmaceuticals for the exclusive license for worldwide development of Natura-alpha, a synthetic small molecule oral compound that is believed to inhibit pro-inflammatory cytokine expression, as well as an option to acquire Natrogen.

Under the terms of the agreement, Natrogen will receive an up-front payment and potential future payments upon the exercise of Takeda’s option to acquire Natrogen, including a payment upon closing of the option to acquire Natrogen and potential post-closing contingent payments upon achievement of certain regulatory and sales milestones. Takeda will fund and execute all additional clinical development.

The Covington team included Scott Smith and Rachel Beller (corporate), Emily Leonard, Bobby Lutzker and Jim Snipes (life sciences transactional), Michael Baxter (bankruptcy), Peter Safir (regulatory), Rob Heller (tax) and Mike Francese (executive compensation).