International law firm Bird & Bird has been advising UK based Pharmagene plc on its merger with US company Asterand, Inc. The transaction, which was effected by way of a reverse takeover, has created a leading human tissue supply and research services company and has valued the merged group at £26million.
The enlarged group which will be operating under the name Asterand, now has an extended tissue supply network of over 70 sites in the US and across Europe and is now the largest contract research organisation (CRO) in the world.
A team of Bird & Bird corporate lawyers led by partner Chris Barrett with assistance from Sage Raja advised Pharmagene on all UK aspects of the transaction. Commenting Chris Barrett said:
“Pharmagene is a longstanding client. We advised them in July 2000 on their admission to the official list and we have seen them through all stages of their business development. This merger is an important next step for their business and also an exciting deal for us to have been involved in”.
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