Novo Nordisk acquisition of Neotope Neuroscience
Davis Polk is advising Novo Nordisk A/S on its acquisition of Neotope Neuroscience Limited from Prothena Biosciences Limited for an upfront payment of $60 million in cash. Total payments to Prothena Biosciences could ultimately amount to $1.23 billion in cash upon the achievement of certain development, commercialization and sales milestones by Novo Nordisk.
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark, with the purpose to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. Prothena Biosciences is a late-stage clinical development company focused on the research, development and commercialization of novel protein immunotherapies for the treatment of disease.
The Davis Polk corporate team includes partner William H. Aaronson and associate Dmitriy Molchanov. Partner David R. Bauer and associate Jesse L. Hallock are providing intellectual property advice. Partner Jeffrey P. Crandall is providing executive compensation advice. Partner William A. Curran is providing tax advice. Partner Ronan P. Harty and counsel Mary K. Marks are providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.