A subsidiary of OPKO Health, Inc. (NYSE:OPK), a multi-national bio-pharmaceutical and diagnostics company, completed the acquisition of all of the assets and undertaking of Cytochroma Canada Inc., a privately held pharmaceutical company with operations in Markham, Ontario, and Bannockburn, Illinois.
The purchase price paid on closing was approximately US$100 million and was satisfied by the issuance of OPKO common stock to Cytochroma. There is also an earn-out component for up to an additional US$190 million, which is payable upon the satisfaction of certain regulatory and revenue milestones.
Cytochroma Canada Inc. was represented in Canada by Aird & Berlis LLP with a team that included Richard Kimel, Tom Fenton, James Leech and Anne Markle (corporate finance); Barbara Worndl (tax); Aaron Collins (financial services) and Grant Cansfield (intellectual property); and in the United States by Cooley LLP with a team that included Glen Sato (corporate/securities).
OPKO Health, Inc. was represented in the United States by Akerman Senterfitt LLP with a team that included Mary Carroll, Teddy Klinghoffer, Daniel Schwartz and Alex Goone (corporate & commercial); and in Canada by Blake, Cassels & Graydon LLP with a team that included Graham Smith and Guy Amini (corporate & commercial) and Kathleen Penny (tax).