PRESS RELEASE
McDermott Expands West Coast Footprint with Life Science IP Litigator
March 12, 2021
Read time: 4 min
International law firm McDermott Will & Emery is proud to announce the arrival of Intellectual Property partner Douglas H. Carsten to the Orange County office. Doug is a recognized leader in the life sciences IP arena, and adds bench strength to the Firm’s West Coast capabilities and his skill will propel synergies between our Intellectual Property group and top-ranked Health and Life Sciences practices.
“Doug is an incredible lawyer who understands being deeply invested in his client’s businesses, and focuses on offering actionable recommendations to mitigate risk and capitalize on opportunity along every stage of the IP lifecycle,” said Bill Gaede, Global Head of McDermott’s Intellectual Property practice. “Doug brings additional first chair trial expertise to our life sciences patent litigation practice and clients will benefit from his multi-faceted IP experience and his motivation to collaborate across practice groups to guarantee his clients are benefiting from all of McDermott’s assets and resources.”
Doug focuses his practice on intellectual property litigation and has successfully tried billion-dollar patent cases across various technology areas, including pharmaceuticals, biologics, medical devices, diagnostic products, retail products and computer software. Doug is also dedicated to mentoring and training junior attorneys and is an active lecturer on topics relating to patent law, trial practice and Hatch-Waxman issues.
“McDermott’s business-first perspective combined with the team’s technical expertise makes the Firm uniquely equipped to help clients excel at any stage in the IP cycle. Through leveraging the invaluable synergies among clients and the Firm’s cross-practice capabilities, my clients will immediately have an advantage over competitors,” added Doug. “I am excited to hit the ground running at McDermott and help build out its preeminent, world-class life science IP practice.”
Doug is McDermott’s latest arrival to the Intellectual Property practice following a string of partner hires including Jeffrey Toney in our recently opened Atlanta office, as well as Michael Siekman and Jenny Chen in Boston.
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—and often unexpected—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 Advises Ardian on Acquisition of Stake in Kapten & Son
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Ardian on Acquisition of Stake in Kapten & Son
March 12, 2021
Read time: 3 min
Munich, March 12, 2021 – McDermott Will & Emery advised Ardian on the acquisition of a minority stake in Kapten & Son Group for its Ardian Growth fund.
Kapten & Son was founded in 2014 by Fabian Deventer, Johannes Theobald and Artjem Weissbeck, and has developed into one of the fastest growing fashion and accessories companies in Europe with revenues over €50m in 2020. The product portfolio includes watches, backpacks, eyewear, sunglasses, cases and accessories, which are distributed in more than 30 countries.
With their new shareholder, Ardian Growth, the founders of Kapten & Son plan to further drive international growth.
Ardian is one of the world’s leading independent investment firms, managing over US$110 billion in assets for investors from Europe, South and North America and Asia. The minority stake in Kapten & Son is Ardian Growth’s first investment in Germany.
The McDermott team co-led by Diana Hund (Corporate/M&A, Paris) and Germar Enders (Corporate/M&A, Munich) advised Ardian on all legal aspects of the transaction. The team also comprised Nikolaus von Jacobs (Corporate/M&A), Steffen Woitz (IP) (both Munich), Nina Siewert (Tax, Frankfurt), Antoine Vergnat (Tax, Paris), Christian Krohs (Antitrust, Düsseldorf) as well as associates Emmanuelle Turek (Corporate/M&A, Paris), Matthias Weingut (Corporate/M&A), Richard Gräbener (IP) (both Munich), Carina Kant (Antitrust, Düsseldorf) and Côme de Saint Vincent (Tax, Paris).
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 — and often unexpected — 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 Comment | Virgin Active Shareholder Brait Updates Status Of Restructuring, Notes Super Scheme Launch Of 3 UK Companies
PRESS RELEASE
McDermott Comment | Virgin Active Shareholder Brait Updates Status Of Restructuring, Notes Super Scheme Launch Of 3 UK Companies
March 11, 2021
Read time: 3 min
Mark Fine, partner at law firm McDermott Will & Emery, said:
“Given the various creditor groups involved it is not surprising that Virgin Active has launched a restructuring plan. The new cross class cram down afforded under the plan means landlords may be included as a class in the plan (and following on from Malaysian Aviation, they may all be the same class) and any potential rejection by them can be overcome subject to certain requirements. Whilst not as tested as a CVA being run in conjunction with a scheme of arrangement, we have seen some recent examples where plans have been launched contemplating a similar cram down like Virgin Atlantic. That said, in that case, prior acceptance of the plan by the relevant classes meant the appropriate tests where cross-class cram-down arises still remain to be established as does the test for the limits of what is ‘just and equitable’.”
Mark Fennessy, partner at law firm McDermott Will & Emery, added:
“The first successful use of cross class cram downs in relation to the new Part 26A Restructuring Plan was in the Deep Ocean restructuring and there are likely to be more of these going forward as debtors seek to deleverage their balance sheets in the coming months.”
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McDermott Advises Ardian on its First German Investment with its Minority Stake in Kapten & Son
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Ardian on its First German Investment with its Minority Stake in Kapten & Son
March 11, 2021
Read time: 3 min
McDermott Will & Emery advised Ardian Growth on its acquisition of a stake in Kapten & Son, a German brand specializing in the online sale of premium lifestyle accessories. With this minority investment, the Ardian Growth team has made its first investment in Germany and will support the founders of Kapten & Son in their European ambitions.
Ardian is one of the world’s leading private equity firms with $110 billion under management and advising on assets across Europe, the Americas and Asia.
Founded in 2014, Kapten & Son is one of Europe’s fastest growing retailers of premium lifestyle accessories such as suitcases, backpacks, eyewear and watches. It operates in more than 30 countries through its online store, six retail stores and a network of exclusive partners.
The McDermott team advising Ardian included:
- Diana Hund, partner and Emmanuelle Turek, associate (Paris), Germar Enders, Counsel and Matthias Weingut, associate (Munich) on corporate matters
- Antoine Vergnat, partner, Côme de Saint Vincent, associate (Paris), and Nina Siewert, partner (Frankfurt) on tax issues
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 — and often unexpected — 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 Advises Specialty Pharma Firm PAION on Exclusive License Agreement with TTY
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Specialty Pharma Firm PAION on Exclusive License Agreement with TTY
March 10, 2021
Read time: 3 min
Frankfurt, March 10, 2021 – McDermott Will & Emery advised PAION AG, a specialty pharma company, on entering into an exclusive license agreement for the development and commercialization of PAION’s lead drug candidate, Remimazolam, with TTY Biopharm Company Limited in Taiwan.
Under the terms of the agreement, TTY has the right and obligation to further develop Remimazolam in all indications in Taiwan with PAION’s support. TTY will bear all cost for market authorization and distribution. PAION will receive a €1.1 million upfront payment in return for supplying the drug product at a percentage of the net selling price in Taiwan with minimum supply price guarantees.
PAION AG is a publicly listed specialty pharmaceutical company headquartered in Aachen (Germany) with an additional site in Cambridge (United Kingdom). Remimazolam is an ultra-short-acting and reversible intravenous benzodiazepine sedative/anesthetic. It is approved in the U.S. and China for procedural sedation and in Japan and South Korea for general anesthesia. In Europe, PAION submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in procedural sedation in November 2019.
Established in 1960, TTY Biopharm Company Limited, a publicly listed pharmaceutical company, has transformed in the last fifty years from a production and sales-oriented generic manufacturing facility into a development and marketing-focused company of branded generics.
PAION AG was advised by Monika Emilia Richter.
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 — and often unexpected — 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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Schulte Represents Kimmeridge in Settlement with Ovintiv
PRESS RELEASE
Schulte Represents Kimmeridge in Settlement with Ovintiv
March 2021
Read time: 2 min
Schulte represented Kimmeridge in its settlement with Ovintiv Inc. As part of the agreement, Ovintiv added its fourth female director to its Board of Directors. Ovintiv has also announced plans to alter its capital allocation plan, restructure its executive compensation arrangement and improve its environmental impact by working to flare less natural gas and reduce carbon emissions.
The Schulte team advising Kimmeridge was led by Ele Klein, Schulte partner, chair of the M&A and Securities Group and co-chair of the global Shareholder Activism Group. The team also included associates Danny Goldstein and Abraham Schwartz.
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Schulte Roth & Zabel Announces Promotions
PRESS RELEASE
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With More than 360 Deals Completed Across 2020, McDermott Among Top Three PE Firms in the US; Firm Continues to Dominate Healthcare PE Industry Ranking #1 for Fourth Consecutive Year
AWARDS & RANKINGS / PRESS RELEASE
With More than 360 Deals Completed Across 2020, McDermott Among Top Three PE Firms in the US; Firm Continues to Dominate Healthcare PE Industry Ranking #1 for Fourth Consecutive Year
March 8, 2021
Read time: 4 min
With more than 360 deals done across the year, McDermott Will & Emery is among the top three PE law firms in the US. The nation’s leading health law firm, McDermott also continued to dominate the healthcare PE rankings, taking the top spot for the fourth consecutive years in PitchBook’s 2020 Annual Global League Tables.
McDermott completed 105 healthcare private equity deals, handily beating the #2 ranked law firm by 41 deals. “We are the undisputed industry leader doing more healthcare private equity and M&A deals than any other law firm, and we are proud that PitchBook has again recognized our work,” said Ira Coleman, Chairman of McDermott Will & Emery. “We are fortunate to partner with a broad range of loyal and active PE leaders who appreciate our creative, hands-on approach to transactions, which inspires us to bring our best every day.”
Ira added, “It’s also exciting to jump from #6 to #3 in overall US PE deals by volume. We’re not only deepening current client relationships but we’re also building new ones, in part through some of the great industry-leading talent we’ve welcomed.”
“We completed more deals in 2020 than in 2019, even with the COVID slowdown, and improved ratings from 2019 in four geographic categories. These standings are a testament to McDermott’s increasingly dominant PE brand, prolific deal flow from existing and new clients, and the dedication of our lawyers as true client advocates,” said Krist Werling, co-head of McDermott’s private equity group.
In addition to again securing the top position in healthcare PE and jumping to #3 for PE in the US, we ranked in the top five for PE globally representing both investors and companies. View Pitchbook’s full league tables.
With more than 100 private equity lawyers spanning 20 locations globally, McDermott’s private equity practice serves as a trusted advisor to firms of all sizes. In addition to Pitchbook’s notable rankings, we are named Top 10 in PE by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg.
McDermott virtually hosts several influential global private equity seminars, including HPE Miami 2021 on March 9-12, 2021, focused on healthcare private equity.
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—and often unexpected—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 AP Intego in its Sale to Next Insurance
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents AP Intego in its Sale to Next Insurance
March 4, 2021
Read time: 3 min
International law firm McDermott Will & Emery represented AP Intego in the sale of its business to Next Insurance, one of the leading digital insurtech companies transforming small business insurance. AP Intego is a digital insurance agency and one of the nation’s fastest growing insurtech companies providing a suite of small commercial insurance products to some of the largest small business software ecosystems in the US, including Intuit, Gusto, Square and Toast.
- This transaction was announced on March 3, 2021.
- McDermott Will & Emery acted as legal advisor to AP Intego.
- The deal doubles the size of Next Insurance’s business and adds 160 team members, over 75,000 small business customers and a leading partner network with access to over 10 million small businesses.
- As part of the agreement, AP Intego will retain its partnerships with leading US small business insurance carriers and its focus will remain on delivering choice, the right coverage and competitive pricing to its partners and their small business customers.
- The McDermott team was led by Michael Halsband, Christopher Stacker and Marisa Young with support from Mike Byrne, Aileen Cordero, Matt Evola, Sandra Ghobraiel, Edward (Jed) Gordon, Gregory Heltzer, Jeffrey Holdvogt, Usama Ibrahim, John Lutz, Terence McAllister, Brian Mead, Sam Neel, Niraj Patel, Amy Pimentel, Reese Poncia, Justin Sia, Heidi Steele, Richard Tsay and Zach Zhou.
For more information, see Coverager article and Next Insurance announcement.
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—and often unexpected—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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Schulte Represents JANA Partners in Agreement with TreeHouse Foods Inc.
PRESS RELEASE
Schulte Represents JANA Partners in Agreement with TreeHouse Foods Inc.
March 2021
Read time: 2 min
Schulte represented JANA Partners LLC in its agreement with TreeHouse Foods Inc. JANA owns approximately 7.4% of stock in TreeHouse Foods, a leading manufacturer and distributor of private label packaged foods and beverages in North America. As part of the agreement, TreeHouse Foods has appointed two independent directors to their Board of Directors and has entered into a corporate agreement with JANA Partners, including customary standstill and voting commitments.
The Schulte team advising JANA Partners was led by Ele Klein, Schulte partner, chair of the M&A and Securities Group and co-chair of the global Shareholder Activism Group. The team also included associates Brandon Gold, Danny Goldstein and Abraham Schwartz.
