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Fenwick & West Represents Cardioxyl as IP Counsel in its Definitive Agreement to be Acquired by Bristol-Myers Squibb

November 02, 2015

​​Fenwick & West acted as IP counsel for Cardioxyl Pharmaceuticals, Inc., a private biotechnology company focused on the discovery and development of novel therapeutic agents for the treatment of cardiovascular disease, in its definitive agreement under which Bristol-Myers Squibb Company (NYSE: BMY), a global biopharmaceutical company, will acquire all of the issued and outstanding capital stock of Cardioxyl. The transaction includes upfront and near-term milestone payments of up to $300 million and potential additional consideration of up to $1.775 billion upon the achievement of certain development, regulatory and sales milestones. The transaction is expected to close during the fourth quarter of 2015.

The acquisition will strengthen Bristol-Myers Squibb’s heart failure pipeline with a Phase 2 asset that has the potential to change the course of the disease rather than simply treating the sympt​oms. Read the news item about Cardioxyl’s definitive agreement to be acquired by Bristol-Myers Squibb.

The Fenwick transaction team included IP partner Dan Becker.