Dimethaid Acquires Oxo Chemie

Dimethaid Research Inc., a publicly traded Canadian pharmaceutical company, acquired Oxo Chemie AG, a private Swiss pharmaceutical company, on May 31, 2002. This $61.4 million acquisition involved the purchase of shares and debt of Oxo Chemie AG, the parent company, the purchase of certain assets and liabilities of subsidiaries located in Germany and Thailand, as well as the wind-up of Oxo Chemie’s U.S. operations. This acquisition will expand Dimethaid’s existing product pipeline to include a new immune-regulating platform drug known as WF10, currently in development for the treatment of AIDS and Hepatitis C.
Rebecca Keeler, chief executive officer, Dimethaid, led the deal, assisted by Torys LLP with a team that included Jay Duffield, Vanessa Grant, Sarah Lerchs and Terra Rebick, with assistance from Gary Solway, Candy Saga and Michael Pickersgill. Michael Lehmann of Lehmann & Neunhoeffer acted as German counsel for Oxo Chemie. Markus Jungo of Hartmann & Dreyer acted as Oxo Chemie’s Swiss counsel.