Chadbourne advises Purdue Pharma on three major transactions in one month

Global Business December 27, 2016

Chadbourne & Parke LLP advised Purdue Pharma L.P. on three strategic collaborations during the month of December. These deals included an alliance for a joint product launch with Shionogi & Co., Ltd.’s US subsidiary, a research and licensing agreement with Exicure, Inc. and a joint research collaboration with AnaBios Corporation. “We hope to see more of these types of mutually beneficial collaborations in the pharmaceutical industry, because they benefit patients and investors alike,” said Chadbourne partner Frank S. Vellucci, who led all three transactions.  “We are excited to be advising Purdue as they expand their business and develop new treatments to help patients.”

Shionogi alliance

Purdue and Shionogi announced on December 19, 2016 that they have teamed up to launch and commercialize Symproic® (naldemedine) upon its approval by the FDA (anticipated first quarter 2017). Symproic®, which was developed by Shionogi, treats opioid-induced constipation (OIC) in adults with chronic non-cancer pain. This alliance brings together Purdue’s experience in the care of patients with pain and Shionogi’s knowledge as the global developer of naldemedine. The Chadbourne team was led by corporate partner Frank S. Vellucci and included tax partner Lauren Kelly and associates Sumantha R. Sedor and Richard Wright.

Exicure agreement

On December 12, 2016, Purdue and Exicure announced their strategic research collaboration and licensing agreement. The purpose of this partnership is to discover and develop a treatment for psoriasis and other diseases. This deal will allow Purdue to use Exicure’s gene regulating Spherical Nucleic Acid (SNA™) technology to treat these diseases in less physically and chemically invasive ways. This technology could enable local and topical administration of treatments for psoriasis and other skin diseases, targeting areas affected directly by knocking down a key mediator gene of psoriasis, as opposed to the treatments found in the market right now — which include biologics, orally administered drugs, and non-targeted topical treatments. The Chadbourne team was led by Frank S. Vellucci and included tax partner Lauren Kelly and associates Sumantha R. Sedor, Stephanie DiFazio and Richard Wright.

AnaBios collaboration

Earlier this month, Chadbourne advised Purdue on a collaboration with AnaBios to advance the research of non-opioid, non-NSAID compounds for the treatment of chronic pain. The goal of the collaboration is to accelerate Purdue’s Nav1.7 sodium ion channel-drug candidates utilizing AnaBios’ Phase-X® discovery platform to develop treatments for chronic pain. The two companies will form a joint steering committee to manage pre-clinical as well as clinical development of the lead molecule, and the companies will jointly own any intellectual property that is developed. Frank S. Vellucci led the Chadbourne team on this transaction, along with tax partner Lauren Kelly and associates Patrick Narvaez and Richard Wright.

About Chadbourne & Parke LLP

For more than a century, Chadbourne has counseled innovators around the world. We are a full-service law firm that leverages the extraordinary talent from our network of international offices to offer the highest caliber client service in more than 80 countries and across every region on the globe. Today, we are recognized internationally for our groundbreaking work in emerging economies and our deep experience in pharmaceutical collaboration transactions, energy and infrastructure, corporate and finance transactions, international disputes, and bankruptcy and financial restructuring.