Davis Polk is advising Shire plc in connection with its acquisition of SARcode Bioscience, Inc. Under the terms of the agreement, Shire will make an upfront payment of $160 million and SARcode shareholders will be eligible to receive additional undisclosed payments upon achievement of certain milestones. The transaction, which is subject to regulatory approval in the United States and other customary closing conditions, is expected to close in the second quarter.
Shire is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. SARcode Bioscience is a privately held, venture-backed biopharmaceutical company based in Brisbane, California.
The Davis Polk corporate team includes partner William J. Chudd, associates Brian J. Snyder and Sabrina L. Ursaner and law clerk Ravi P. Ramchandani. The employee benefits team includes partner Kyoko Takahashi Lin, associate Andrew Blau and law clerk Ferrell Maguire. The intellectual property team includes associate Pritesh P. Shah and law clerk Jansen A. S. Thurmer. Partner Michael Mollerus is providing tax advice. All members of the Davis Polk team are based in the New York office.
