Cooley Advised EsoBiotec On Its $1 Billion Acquisition By AstraZeneca

Cooley Advised EsoBiotec On Its $1 Billion Acquisition By AstraZeneca

An initial payment of $425 million will be made at closing and up to $575 million in contingent consideration based on development and regulatory milestones.

Cooley advised EsoBiotec - a pioneer in vivo cell therapies that has proven promising early clinical activity – with respect to its conclusive agreement to be acquired by AstraZeneca (London Stock Exchange/Nasdaq Stockholm/Nasdaq: AZN) for up to $1 billion on a cash- and debt-free basis. An initial payment of $425 million will be made at closing and up to $575 million in contingent consideration based on development and regulatory milestones. Expected to close in the second quarter of this year, the deal is subject to customary closing conditions and regulatory clearances.

The cross-border Cooley team advising EsoBiotec was led by Partners Rama Padmanabhan, Rowook Park, Charity Williams, Simon Amies and Russell Anderson.