Weil, Gotshal & Manges has advised Apax Partners, who held a 47.7% stake in metaGen Pharmaceuticals GmbH, the German biotechnology company, on the merger of metaGen and Astex Technology Limited, the Cambridge-based biotechnology company. The merged company will operate under the name of Astex Technology Limited. Financial details of the transaction were not disclosed.
This was Weil Gotshal’s first instruction from the Apax European healthcare team and a recognition of our substantial expertise in the private equity field and our industry expertise in the pharmaceutical and biotechnology sector. The Weil Gotshal team was led by partner Paul Claydon and included associates Nick Thody and Madelene Dyer.
Amos Goren, Director and Head of the European healthcare team of Apax Partners, said: “We are very excited by the opportunities created by the merger of metaGen Pharmaceuticals with Astex Technology. We expect that the combination of good management, broad technology base, and sufficient resources to develop a portfolio of promising drugs will enable Astex to become one of the leading European biotech companies.”
Other advisors on the transaction included P&P Pollath who provided German law advice to Apax. SJ Berwin advised the existing investors in Astex and Cameron McKenna advised Astex