WilmerHale Represents BioVex in Acquisition by Amgen

WilmerHale Represents BioVex in Acquisition by Amgen

News
On Monday, January 24, Amgen (Nasdaq: AMGN) and BioVex Group, Inc. announced the companies’ definitive acquisition agreement under which Amgen has agreed to acquire BioVex, a privately held, venture-funded biotechnology company. BioVex’s lead product candidate is OncoVEX, a novel oncolytic vaccine in Phase 3 clinical development for the treatment of advanced melanoma and head and neck cancer.

Under terms of the agreement, Amgen will pay up to $1 billion: $425 million in cash at closing and up to $575 million in additional payments upon the achievement of certain regulatory and sales milestones. The transaction has been approved by the boards of directors of each company. It is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2011. Following the completion of the transaction, BioVex will become a wholly owned subsidiary of Amgen. The full release is available on BioVex’s website.

The WilmerHale team representing BioVex in the transaction is led by Partners Timothy Corbett and Steven Singer and Counsel Brian Neumann, and also includes Partners Andrew Nagel, A. William Caporizzo, Kimberly Wethly, Paula Holland, David Andrews and Tim Matthews.