Novo Nordisk’s Acquisition of Neotope Neuroscience

Davis Polk, working alongside Matheson, advised Novo Nordisk on the deal.

Novo Nordisk A/S completed its acquisition of Neotope Neuroscience Limited from Prothena Biosciences Limited for an upfront payment of $60 million in cash. Total payments to Prothena Biosciences could ultimately amount to $1.23 billion in cash upon the achievement of certain development, commercialization and sales milestones by Novo Nordisk.

Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark, with the purpose to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders.

Prothena Biosciences is a late-stage clinical development company focused on the research, development and commercialization of novel protein immunotherapies for the treatment of disease.

The Davis Polk corporate team included partner William H. Aaronson (Picture) and associate Dmitriy Molchanov. Partner David R. Bauer and associate Jesse L. Hallock provided intellectual property advice. Partner Jeffrey P. Crandall provided executive compensation advice. Partner William A. Curran provided tax advice. Partner Ronan P. Harty and counsel Mary K. Marks provided antitrust and competition advice.

The Matheson team was led by Corporate M&A partner David Fitzgibbon, Tax partner Aidan Fahy, Tax Principal John Ryan and Corporate senior associate John Coary.

Involved fees earner: William Aaronson – Davis Polk & Wardwell; David Bauer – Davis Polk & Wardwell; Jeffrey Crandall – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Jesse Hallock – Davis Polk & Wardwell; Ronan Harty – Davis Polk & Wardwell; Mary Marks – Davis Polk & Wardwell; Dmitriy Molchanov – Davis Polk & Wardwell; John Coary – Matheson; Aidan Fahy – Matheson; David Fitzgibbon – Matheson; John Ryan – Matheson;

Law Firms: Davis Polk & Wardwell; Matheson;

Clients: Novo Nordisk A/S;

Martina Bellini

Author: Martina Bellini