Vernalis Acquires Cita NeuroPharmaceuticals

On December 14, 2005, Vernalis plc completed its acquisition of Cita NeuroPharmaceuticals Inc. for up to US$64.5 million. Vernalis is a UK-based specialty pharmaceutical company primarily focused on drugs for the treatment of neurology and central nervous disorders.
Cita NeuroPharmaceuticals is a privately owned neuropharmaceutical company based in Ontario focused on the development and commercialization of small molecule drug candidates, such as drugs for the treatment of Parkinson's disease and neuropathic pain. The completion of the transaction included a vendor placing, to realize cash proceeds payable to certain Cita shareholders, and an open offer of Vernalis shares in the UK.

Vernalis was represented by Torys LLP, under the direction of John Slater, general counsel of Vernalis, with a team that included Kathleen Keller-Hobson, Salima Datoo, Adam Armstrong, Glen Johnson and Jennifer Lennon (corporate), Eileen McMahon and Jessica Lumière (biotech), Nadine Côté and Valerie Arthur (employment) and John Unger (tax). Vernalis was represented in the UK by Allen & Overy LLP with a team that included Anna Buscall, Gavin Weir and Colin Bole.

Cita was represented by Borden Ladner Gervais LLP with a team that included Jeff Graham, Alfred Page, Sonia Mak, Julie Mansi, Will Wallace and Elinore Richardson (tax) and Eric Roher (employment). John Zak of Hodgson Russ LLP represented Cita on US legal issues.