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October 7, 2014
LONDON, 7 October, 2014 — Covington & Burling advised Horizon Discovery Group plc, an AIM listed international life science company supplying research tools and services to organizations engaged in genomics research and the development of personalized medicines, on the acquisition of Sage Labs Inc. for a total of approximately $48 million (£29 million), comprising up to $16 million in cash and up to $32 million in new ordinary shares.
The acquired business will be known as Sage Labs Inc., a wholly owned subsidiary of Horizon Discovery Group plc. The acquisition creates a fully integrated translational genomics platform and significantly expands Horizon’s product, service and research offerings.
The Covington team was led by partner Kristian Wiggert and associates Rabie Masri and Philip Young. The wider Covington team consisted of Paul Claydon and Simon Williams (UK Corporate), Mike Francese and Brady McDaniel (Employment and Benefits), Don Elliott (Environmental), Robin Blaney, Cynthia Burton, Angeliki Valsamidou, Marie Lavalleye and Jessica Milner (IP/Commercial), Jeannie Perron (Regulatory), Heather Haberl and Alex Kaplan (Real Estate), Rob Heller and Guy Dingley (Tax).