Fenwick Represents Apton Biosystems in Acquisition by Pacific Biosciences

Fenwick represented Apton Biosystems, a developer of Super-Res sequencing and single-molecule detection systems, in its acquisition by Pacific Biosciences (NASDAQ: PACB), a developer of high-quality, highly accurate sequencing solutions.

PacBio’s acquisition of Apton includes upfront consideration of approximately $85 million in an all-stock transaction consisting of approximately 6.3 million shares of PacBio common stock plus an additional $25 million in stock, cash, or a combination of stock and cash payable in connection with the achievement of $50 million in revenue associated with a high throughput sequencer using Apton’s technology, for an overall transaction valued up to approximately $110 million. More information can be obtained from the news announcement.

The Fenwick transaction team included corporate partners Dave Healy and Victoria Lupu, associates Brendan Montgomery, Luke Finn, Paige Tucker and law clerk Tom Fox; technology transactions partner Stefano Quintini, associates Jennifer Yoon, Kehl Sink, Mina Matsumoto and Phillip Yin and advisor Sandra Weustink; executive compensation and employee benefits partner Marshall Mort and associates Jonathan Stephenson and Jennifer Lin; privacy and security counsel Ana Razmazma and associate Heba Tawadross; tax partner Mike Knobler and associate Daphny Lazarus; and healthcare regulatory partner Jennifer Yoo and associate Stephanie Aldous.