Ropes & Gray represented Asklepios BioPharmaceutical on its sale to Bayer AG. Under the terms of the agreement, Bayer will pay an upfront consideration of $2 billion and potential success-based milestone payments of up to $2 billion. The transaction was announced on October 26. The press release is available here.
AskBio is a privately-held biopharmaceutical company founded in 2001 and headquartered in the Research Triangle Park, North Carolina that specializes in the research, development and manufacturing of gene therapies across different therapeutic areas. Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition.
The Ropes & Gray team that represented Asklepios BioPharmaceutical was led by private equity partner Michael Roh (Boston), mergers & acquisitions partners Emily Oldshue and Amanda Austin (Boston), and included mergers & acquisitions partners Paul Kinsella and David McIntosh (both of Boston), tax, employment & benefits partner Matthew Jones (Chicago), life sciences, regulatory & compliance partner Albert Cacozza, litigation & enforcement partners Michael McFalls, Maria Calvet (both of Washington D.C.) and Daniel Ward (Boston), employment, executive compensation & benefits Megan Bisk (Boston), tax partner Adam Greenwood (New York), health care partner Eve Brunts (Boston), and private equity associate Frederick Walton Dumas (San Francisco).
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