WilmerHale Secures Major Deal for Nabriva Therapeutics and Forest Laboratories

WilmerHale Secures Major Deal for Nabriva Therapeutics and Forest Laboratories

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Earlier this month, WilmerHale led Austrian-based client Nabriva Therapeutics into an agreement with Forest Laboratories for the development of Nabriva’s novel antibacterial agent, BC-3781, marking what could be one of Europe’s most significant biotechnology deals in 2012. The antibacterial agent, BC-3781, is used for the treatment of severe skin infections and pneumonia, among other conditions.

As announced by the companies on June 1, 2012, pursuant to the agreement, Forest will fund Nabriva $25 million and collaborate in development activities related to BC-3781 over the next 12 months. During the 12-month period, Forest has exclusive rights to acquire Nabriva. No further financial or other terms were disclosed. The transaction is subject to customary regulatory clearances including termination of the applicable Hart-Scott-Rodino waiting period.

Nabriva Therapeutics is a biotechnology company focused on developing a new class of antibiotics for the treatment of serious infections caused by resistant pathogens. Nabriva’s lead systemic focus is on a new class of antibiotics, including drug resistant strains such as MRSA and Vancomycin-resistant Enterococcus faecium. Nabriva’s current shareholders include Phase4 Ventures, HBM Partners, The Wellcome Trust, Global Life Science Ventures, Novartis Venture Fund and Sandoz.

Negotiations for this transatlantic deal were lead by an international team of WilmerHale lawyers. The Frankfurt team included Partner Dr. Rüdiger Herrmann, Counsel Jochen Eimer, Senior Associates Christoph Harler, Dr. Monika Richter and the US team included Partners Jeffrey Hermanson and David Redlick. Dr. Hartmut Schneider and Dr. Peter Gey advised on the regulatory issues and antitrust clearance of the transaction.