Covington Represents Boston Children's Hospital in Royalty Monetization

NEW YORK—Covington advised Boston Children's Hospital in its monetization of a portion of its royalties relating to Vonvendi, a recombinant drug used to treat a common bleeding disorder called von Willebrand disease. The purchaser, Barings Alternative Investments, part of Barings LLC, on behalf of institutional investors, paid $51.5 million.

Boston Children’s Hospital plans to invest the proceeds of the royalty monetization into pediatric medical research.

The Covington team consisted of John Gourary, Rachel Beller, and Brianna Bloodgood (corporate); Natalie Derzko (intellectual property); and Ansgar Simon (tax).