Global law firm Hogan Lovells has advised HLS Therapeutics Inc. (TSX: HLS) on the sale of its royalty interest and milestone payment obligations in the global sales of XENPOZYME (olipudase alfa) to DRI Healthcare Trust.
Formed in 2015, HLS is a pharmaceutical company focused on the acquisition and commercialization of late-stage development, commercial stage promoted and established branded pharmaceutical products in the North American markets. HLS’s focus is on products targeting the central nervous system and cardiovascular therapeutic areas.
This transaction is valued at up to US$45.75 million, which consists of US$13.25 million paid upfront in cash, US$14 million in potential sales-based milestone payments and DRI Healthcare’s assumption of US$18.5 million of potential future milestone payment obligations.
The Hogan Lovells team was led by partners Gabi Witt (Washington, D.C.), Stephen Nicolai (Philadelphia) and senior associate Spenser Karr (Philadelphia), with support from partners Scott Friedman (New York), Edward Purdon (Washington, D.C) and William Regan (New York), counsel Brooke Shekhar (Washington, D.C), and summer associate Amy Isselmann (Philadelphia).
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