Davis Polk & Wardwell is advising Novo Nordisk A/S (Novo) on its acquisition of intellectual property rights and other assets from Neose Technologies, Inc. (Neose), including substantially all of Neose’s intellectual property relating to the discovery, research, development and commercialization of compounds and products for use in the prevention or treatment of acquired or hereditary hemorrhagic disorders. Novo is currently party to three agreements with Neose under which Neose licenses its intellectual property rights to develop and commercialize next-generation versions of recombinant Factors VIIa, VIII and IX. Concurrently, Neose agreed to sell to BioGeneriX AG (BGX), also its existing collaborative partner, certain other intellectual property rights of Neose it owns.

Assuming completion of the asset purchases by Novo and BGX, Novo and BGX will enter into agreements under which Novo will license or sublicense to BGX certain intellectual property acquired by Novo from Neose pursuant to the Novo asset purchase.

Consummation of the Novo asset purchase is subject to customary closing conditions, including approval by Neose’s stockholders and closing of the BGX asset purchase, and is the initial step in a contemplated liquidation of Neose.

The Davis Polk corporate team includes partners Thomas J. Reid and Jeffrey R. O’Brien and associate Sapna Dutta. Partner Frank J. Azzopardi and associate Stefan Quick are providing intellectual property advice. Partner Gail A. Flesher and associate Elisabeth Hanratty are providing environmental law advice. Partner Harry Ballan and associate Raymond J. Holst are providing tax advice. Partner Amelia T.R. Starr is providing litigation advice. All members of the Davis Polk team are based in the New York office, other than Jeffrey R. O’Brien and Sapna Dutta, who are based in the London office.