On January 7, 2003, West Chester, Pennsylvania-headquartered Cephalon, Inc., invested US$30 million in Toronto-headquatered MDS Proteomics Inc., a private biotechnology company with a majority owned by MDS Inc., through the purchase of a US$30 million convertible note bearing interest at 5 per cent and maturing in 2010. The note is exchangeable into MDS Proteomics shares at US$22 per share. The companies have also entered into a five-year research collaboration agreement that will utilize MDS Proteomics technology to further enhance Cephalon’s drug discovery efforts.
Cephalon was represented by in-house counsel John Limongelli, and by Stikeman Elliott LLP with a team comprised of William Braithwaite and Donald Belovich (corporate/securities), Jennifer Legge (corporate/banking), Abas Kanu and Chris Flood (corporate) and Dean Kraus (tax). Rebecca Weaver of Morgan, Lewis & Bockius LLP in Philadelphia acted for Cephalon in the U.S.
MDS Proteomics was represented by in-house counsel David Patterson, and by Fasken Martineau DuMoulin LLP with a team comprised of John Turner, Greg Ho Yuen and Tracy Hooey (corporate/securities), Jon Holmstrom and John Torrey (banking) and Patrick McCay (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted for MDS Proteomics in the U.S., with a team that included Christopher Morgan and Riccardo Leofanti (corporate/securities) in Toronto and Jena Watson (banking/UCC) in New York.
Cephalon was represented by in-house counsel John Limongelli, and by Stikeman Elliott LLP with a team comprised of William Braithwaite and Donald Belovich (corporate/securities), Jennifer Legge (corporate/banking), Abas Kanu and Chris Flood (corporate) and Dean Kraus (tax). Rebecca Weaver of Morgan, Lewis & Bockius LLP in Philadelphia acted for Cephalon in the U.S.
MDS Proteomics was represented by in-house counsel David Patterson, and by Fasken Martineau DuMoulin LLP with a team comprised of John Turner, Greg Ho Yuen and Tracy Hooey (corporate/securities), Jon Holmstrom and John Torrey (banking) and Patrick McCay (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted for MDS Proteomics in the U.S., with a team that included Christopher Morgan and Riccardo Leofanti (corporate/securities) in Toronto and Jena Watson (banking/UCC) in New York.
