June 17, 2008 (Seattle, WA) – LAWFUEL – Fenwick & West LLP represented Bothell, WA-based LipoSonix, Inc. in its recently announced acquisition by Medicis (NYSE: MRX), a specialty pharmaceutical focusing primarily on the treatment of dermatological and aesthetic conditions. LipoSonix has developed a non-invasive ultrasound technology designed to treat troublesome areas of fat that may not respond well to diet or exercise.
Under the terms of the transaction, Medicis will pay $150 million in cash for all of the outstanding shares of privately-held LipoSonix. In addition, Medicis will pay LipoSonix stockholders certain milestone payments up to an additional $150 million upon FDA approval of the LipoSonix technology and if various commercial milestones are achieved on a worldwide basis.
Details of the transaction are available on the Medicis website.
The Fenwick & West transaction team included corporate attorneys Stephen Graham, David Michaels, Matt Forkner, Kristin O’Hanlon, Theresa Shaw and Andrew Albertson; licensing attorney Roger Tolbert; executive compensation and employee benefits attorneys Blake Martell and Nicholas Frey; and tax attorney Ron Schrotenboer.