Bird & Bird advises Tularik Inc. on $9.4 million Acquisition

16 July 2001

Significant boost for leading US drug discovery company

International law firm, Bird & Bird, recently acted for Nasdaq quoted, Tularik Inc, a South San Francisco based drug discovery company, on the acquisition of the computer-aided molecular design unit of UK based Protherics plc. The unit has been acquired for 400,000 Tularik shares with a market value of approximately $9.4 million.

Tularik Inc. is engaged in the discovery and development of a broad range of novel and superior orally available drugs that act through the regulation of gene expression. Programmes developed by Tularik address cancer, viral diseases, inflammation, immune disorders, lipid disorders, diabetes and obesity. It is expected that the deal will boost both the number and quality of leads for Tularik's drug discovery efforts.

The Bird & Bird team was led by corporate partner, Matt Dennis and was assisted by partner, John Wilkinson (Life Sciences) and assistants, James Godbee (Corporate), Graeme Fearon and Nicola Giles (IP/IT), Jane Morris (Real Estate), Liz Lang (Employment) and trainee, James Ross. Partner Richard Ward also advised on tax issues.

Suzanne Hooper of Cooley Godward (Palo Alto office) represented Tularik in the US. Ashurst Morris Crisp acted for Protherics.

Tularik Inc is quoted on Nasdaq and has a market cap of approximately $1.2 billion.

For more information, please contact partner Matt Dennis on +44 (0) 20 7415 6000.