For the sixth year in the eight year history of the award, Hale and Dorr LLP has been counsel to at least one nominee for the Breakthrough Alliance Award sponsored by Recombinant Capital—an award given for the best and most innovative practices in drafting and negotiating alliances between biotechnology and pharmaceutical companies. In three of the past seven years in which the award was given, clients of Hale and Dorr took the award home. This year, three of the five nominees are Hale and Dorr clients.
Recombinant Capital annually nominates biotech-pharma alliances as the breakthrough deals of the previous year. The award is bestowed upon the alliance that receives the most votes by biotech and pharma business development and licensing executives.
Hale and Dorr has served as counsel to three of the five Alliance Award nominees this year: Idenix in the agreement with Novartis, focused on viral drugs and worth up to $862 million; Millennium Pharmaceuticals in the potential $500 million marketing deal for Velcade (bortezomib), a proteasome inhibitor for multiple myeloma with Ortho Biotech Products LP, a Johnson & Johnson company; and Eyetech Pharmaceuticals in a potential $750 million deal with Pfizer Inc., centered on developing and commercializing Macugen, Eyetech’s lead candidate for age-related macular degeneration and diabetic macular edema.
“We are delighted our clients continue to receive this distinct recognition by their peers in the biotechnology and pharmaceutical industry. Competition has remained fierce over the past seven years—and we expect that competition among the 2004 nominees will be no exception.” said Steven Singer, co-chair of the Life Sciences Group at Hale and Dorr.
The eighth annual Breakthrough Alliance Award will be presented at a gala ceremony on the evening of April 6th during the Allicense 2004 conference in San Francisco.