McAndrews Facilitated Divestiture of Stem Cell Business of Client Osiris Therapeutics for $100 Million
04.09.14
McAndrews guided client Osiris Therapeutics (NASDAQ:OSIR) in intellectual property matters involving
the sale of Osiris’s culture-expanded mesenchymal stem cell (ceMSC) business (including Osiris’ large
ceMSC patent estate) to Mesoblast International, SARL (ASX:MSB) (USOTC:MBLTY).The matter was
unique in that it represented a change in course for Osiris’s business and a transfer of significant assets
and technology that Osiris had developed, with the help of McAndrews, over many years. Operating
under tight deadlines, McAndrews not only had to ensure the successful transfer of the purchased IP, but
also assist Osiris in ensuring that all related technology contracts and third-party relationships remained
intact for the benefit of the buyer. The transferred estate encompassed more than 250 patents and 90
applications, spanning more than 20 jurisdictions worldwide. The transaction was valued at up to $100
million in initial consideration and milestone payments.