DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Ryvu Therapeutics on Collaboration with BioNTech for the Development of Cancer Drugs
December 1, 2022
Read time: 3 min
Frankfurt, December 1, 2022 – McDermott Will & Emery advised Ryvu Therapeutics S.A., a cancer therapeutics clinical development company headquartered in Krakow, Poland, on a research collaboration agreement with Mainz-based biotechnology company BioNTech.
The collaboration aims on the joint development and marketing of immunomodulatory small-molecule active ingredients for cancer therapy. In addition, Ryvu will grant BioNTech exclusive worldwide development and commercialization rights to Ryvu’s STING agonist portfolio.
Under the terms of the agreement, Ryvu will receive an upfront payment of €20 million from BioNTech for certain rights to Ryvu’s STING agonist portfolio and for certain rights and options to license several small molecule drug programs. In addition, BioNTech committed to an equity investment of €20 million.
Ryvu Therapeutics S.A., a stock-listed company headquartered in Krakow, Poland, focuses on drug discovery and development, particularly novel small molecule cancer therapies.
McDermott counsel Monika Richter acted as advisor to Ryvu along with Ryvu general counsel Dawid Radziszewski.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents MedStar Health in its Five-Year Deal with Kyndryl
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents MedStar Health in its Five-Year Deal with Kyndryl
December 1, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented MedStar Health in a five-year full-scope information technology (IT) outsourcing deal with Kyndryl, the world’s largest IT infrastructure services provider. Under the five-year agreement, Kyndryl will provide mission-critical IT capabilities across the MedStar Health system and accelerate its digital transformation with the aim of enhancing the patient and caregiver experience.
The transaction closed on October 17, 2022.
The McDermott deal team was led by Shawn Helms and included Cate Howe and Amber Adair.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Amulet Capital Partners in its Acquisition of United Vein & Vascular Centers
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Amulet Capital Partners in its Acquisition of United Vein & Vascular Centers
November 30, 2022
Read time: 4 min
International law firm McDermott Will & Emery represented Amulet Capital Partners, a middle-market private equity investment firm focused exclusively on the healthcare sector, in its acquisition of United Vein & Vascular Centers (UVVC), a leading provider of high-quality vascular care treatment services. In partnership with UVVC, Amulet will support UVVC’s long-term growth objectives and the expansion of high-quality treatment capabilities as patient demand for more accessible, office-based treatment settings continues to grow.
The McDermott deal team was led by Krist Werling and included Hunter Sharp, Thaddeus Chase, Kevin Hall, Patrick Zanayed, William Hadler, Lisa Loesel, Brian Mead, Tony Maida, Alex Ruiz, Jiayan Chen, Jennifer Mikulina, Jamie Gelfman, Eric Preston, Emily Cook, Monica Wallace, Ty Carson, Margaret Cremin, Mike Abercrombie, Rachel Byrd, Ellie Atkins, Andrew Granek, Marisa Young, Deepali Doddi, Kristi Mankowske, Nick Paul, Dexter Golinghorst, Niraj Patel, Traci Ottenfeld, Deepak Tamasker, Will Orner and Abby Higgins.
McDermott also handled the debt financing with a team led by Joshua Samis and included Michael Rostov, Adnan Qazi, Haley Caradonna and Aileen Requejado.
Read Amulet Capital Partners press release.
McDermott’s private equity practice is among the top four most active PE law firms globally and in the US with more than 160 dedicated private equity lawyers in 21 locations globally. In addition to being Pitchbook’s top Healthcare PE firm for a fifth consecutive year and fifth in both IT and financial services private equity, we are named Energy & Industrials Law Firm of the Year (Large Cap) by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg. Learn more about our PE practice by visiting pe.mwe.com.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Advises Atruvia on Merger of Verimi and Yes Identification Service Providers
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Atruvia on Merger of Verimi and Yes Identification Service Providers
November 29, 2022
Read time: 3 min
Frankfurt a.M., November 29, 2022 – International law firm McDermott Will & Emery advised Atruvia AG on the merger of the identification services and ID wallet providers, Verimi and Yes.
Together with DZ Bank and other financial institutions, Atruvia will be one of the 25 shareholders of the new company. Through the merger, the companies aim to establish an ecosystem for digital identities in Germany.
Yes.com ID portal is supported by Sparkassen, Volksbanken and Raiffeisenbanken. Verimi GmbH has been held by, inter alia, Allianz and Deutsche Bank as well as Axel Springer, Bundesdruckerei, Volkswagen, Mercedes-Benz, Deutsche Bahn and Lufthansa.
In 2022, the two providers have so far processed over 10 million transactions through their infrastructure.
Atruvia AG is the digitization partner of Genossenschaftliche FinanzGruppe, employing over 4,800 people and with revenues of EUR 1.31 billion in 2021.
The McDermott team advising Atruvia AG was led by Corporate partner Michael Cziesla, and included partner Renate Prinz, counsel Dr. Christian Marzlin and associates Dr. Marion von Grönheim, Lisa Schickling and Kai Grandpierre.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Monumental Sports & Entertainment in Investment by Jeff Skoll
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Monumental Sports & Entertainment in Investment by Jeff Skoll
November 29, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented Monumental Sports & Entertainment, one of the largest integrated sports and entertainment companies in the country, in connection with a minority investment by former eBay President, Jeff Skoll.
Monumental Sports & Entertainment, led by founder, Chairman and Chief Executive Officer Ted Leonsis, owns and operates multiple team franchises, venues and media enterprises, including six professional sports teams: the 2018 NHL Stanley Cup Champion Washington Capitals, NBA’s Washington Wizards, WNBA’s 2019 Championship Washington Mystics, NBA G League’s Capital City Go-Go and the 2021 & 2020 NBA 2K League Champion Wizards District Gaming and Caps Gaming, an esports sub-brand of the Capitals.
The McDermott team was led by Tom Conaghan, Head of McDermott’s Washington, DC Corporate Practice Group, with substantial support provided by partners Christine Kretkowski and Scott Bowman and associate Greg Berson. The McDermott team also included partners Patrick McCurry and Alex Farr and associates Andrew Granek, Will Rush, Fon Bisalbutr and Charles Darantiere.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Advised Kiln in its Series A Financing
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advised Kiln in its Series A Financing
November 29, 2022
Read time: 2 min
McDermott advised Kiln on its $17M Serie A fundraising.
The team comprised Diana Hund, Charline Boulenger and Alexandre Bomet.
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Nathan Brown Elected a Fellow of the American College of Trust and Estate Council
AWARDS & RANKINGS / PRESS RELEASE
Nathan Brown Elected a Fellow of the American College of Trust and Estate Council
November 29, 2022
Read time: 3 min
International law firm McDermott Will & Emery is pleased to announce Chicago-based partner Nathan Brown has been elected as a Fellow of the American College of Trust and Estate Counsel (ACTEC).
ACTEC is an organization of lawyers and law professionals who aim to improve trust and tax laws, procedures and professional responsibility. ACTEC Fellows have demonstrated the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. Individual lawyers meeting the criteria for membership are nominated by Fellows of the College and are selected based on experience, professional reputation and ability in the fields of trusts and estates and based on having made substantial contributions to these fields through lecturing, writing, teaching and bar activities.
Nathan focuses his practice on counseling wealthy individuals and families in the development and implementation of suitable estate planning strategies to maximize and protect the transfer of wealth to future generations. Nathan also guides executors and trustees through the estate and trust administration process.
McDermott’s Private Client Practice represents high-net-worth individuals, families and closely held businesses with an extraordinary focus on the client’s specific, unique objectives. The team of more than 110 lawyers is continually recognized as the top private client practice in the US and among the top practices worldwide; the practice maintains the only national Band 1 ranking for Private Wealth Law in the US by Chambers High Net Worth, a guide dedicated to the global private wealth market.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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SRZ Hosts Inaugural Affinity Groups Fair
PRESS RELEASE
SRZ Hosts Inaugural Affinity Groups Fair
Read time: 2 min
Schulte Roth & Zabel hosted its inaugural Affinity Groups Fair. The fair was an opportunity for the SRZ community to engage with attorney and business staff representatives of the firm’s eight affinity groups, and learn about affinity group meetings, events and advocacy efforts.
Through conversations, food, drinks and more, each of the affinity groups ‒ API Affinity Group, Black Affinity Group, Caregivers Affinity Group, First Generation Professionals Affinity Group, Latinx Affinity Group, LGBTQ+ Affinity Group, Veterans Affinity Group and Women’s Affinity Group ‒ shared their missions and welcomed new members.
SRZ is proud to continue building a culture of inclusion and belonging.
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Carl Fleming Again Appointed to The Biden Administration’s Renewable Energy and Energy Efficiency Advisory Committee
PRESS RELEASE
Carl Fleming Again Appointed to The Biden Administration’s Renewable Energy and Energy Efficiency Advisory Committee
November 21, 2022
Read time: 4 min
International law firm McDermott Will & Emery is pleased to announce partner Carl Fleming has been re-appointed to the Renewable Energy and Energy Efficiency Advisory Committee (REEEAC) under the Biden Administration. In this role, Carl will continue to serve as a strategic advisor to Secretary of Commerce, Gina Raimondo, in relation to the development and administration of programs and policies to increase the competitiveness of US renewable energy, including implementation of the Inflation Reduction Act. Carl has served in this role since 2013 and has been appointed for four consecutive terms.
“With the passing of the Inflation Reduction Act, the largest climate change legislation ever passed, there has never been a greater opportunity for the US and our renewable energy clients to remain leaders in the global renewable energy markets,” Carl said. “I look forward to serving the United States in this capacity as I continue to serve my renewable energy clients and further strengthen the US’s role as a leader in global renewable energy and sustainability.”
In the past term, the REEEAC advised upon and made formal, actionable recommendations to resolve, major issues affecting the competitiveness of the US renewable energy and energy efficiency industries, including helping to analyze and resolve certain issues around Commerce’s Auxin investigation. In total, the committee submitted and approved 12 recommendations to the US Department of Commerce in Carl’s prior term. The REEEAC is expected to play a key role in the implementation of the Inflation Reduction Act.
“The US has made great strides in supporting energy transition initiatives, and I am thrilled to continue to guide our clients through the ever-changing regulatory landscape. With tremendous support from the federal government and increased worldwide momentum to face the energy crisis, now is an exciting time to advise clients on their sustainable energy projects, including green hydrogen, battery storage and electric vehicles.”
Carl is a partner in the Firm’s Energy & Project Finance group, where he leads transactions throughout the US and worldwide for a number of the renewable industry’s leading renewable energy developers, global private equity funds and Fortune 500 companies. He provides legal, commercial and strategic advice on the development, purchase and sale and financing of renewable energy projects in wind, solar, energy storage, electric vehicles and other low-carbon solutions. Carl also advises on a number of energy and climate change policy issues.
Prior to joining McDermott, he served in the Obama administration as an advisor to the White House, senior international attorney and diplomat for the State Department’s Millennium Challenge Corporation. He has also served as a REEEAC appointee under the Obama and Trump administrations.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Comment | Autumn Statement: Windfall Tax and Income Tax
PRESS RELEASE
McDermott Comment | Autumn Statement: Windfall Tax and Income Tax
November 17, 2022
Read time: 3 min
Shah Jahan Khandokar, partner at McDermott’s London office, commented:
“Whilst there is always rhetoric about investment in renewable energy being deterred by windfall taxes, the level of certainty which comes from the announcement this afternoon will be welcomed, as opposed to a blanket revenue cap (which was contemplated by former PM, Liz Truss). However, renewable energy investors will raise an eyebrow or two at the lack of an investment allowance, which their oil & gas peers are still able to enjoy.”
Sarah Gabbai, McDermott’s tax lawyer, also in London, commented on the potential impact of freezing income tax rate bands, saying:
“While the “fiscal drag” technique of freezing basic and higher income tax rate bands is a more politically palatable way of raising taxes than rate increases, the consequential National Insurance cost to employers will be made even more significant than in previous Budgets since employers will feel pressure to increase earnings to keep pace with inflation, which currently stands at 11.1% – the highest we’ve seen in the last decade or so. Today’s announcements will therefore exacerbate the existing fault line in the tax system between employment income and other forms of income and gains, thereby driving employers to seek alternative forms of engagement outside of the employer-employee model, many of which pose a significant enquiry risk”.
