PRINCETON, New Jersey, December 4, 2014: Morgan Lewis represented BTG plc as M&A counsel in its $475 million acquisition of PneumRx Inc., a venture-backed lung treatment specialist based in California. The deal was announced on December 4, 2014.
BTG will pay $230 million in cash initially and up to $245 million in performance-related payments under the terms of the agreement.
Based in London, BTG is an international specialist healthcare company that is active in interventional medicine and specialty pharmaceuticals.
The Morgan Lewis team representing BTG was led by Business & Finance Practice partner David G. Glazer and associate Kevin M. Grant, with support from Intellectual Property Practice partner Louis W. Beardell, Jr., Antitrust Practice partner Harry T. Robins, and FDA Practice partner M. Elizabeth Bierman.
For more information on the acquisition, please follow the link to BTG’s press release here.