July 31, 2008
July 31, 2008 - (Atlanta, GA) - McKenna Long & Aldridge LLP (MLA) announces that its client, Osiris Therapeutics, Inc. completed the sale of its Osteocel business to NuVasive, Inc., in a transaction worth up to $137 million, on July 24, 2008. The sale was completed following a federal court decision to deny Orthofix/Blackstone Medical, Inc.’s last minute temporary restraining order seeking to prevent the closing. Osiris Therapeutics, Inc., a leading stem cell therapy company, was represented by MLA attorneys Michael Cochran, David Brown, Clayton Coley, and Allix Magaziner; with litigation representation managed by Tami Azorsky. NuVasive, Inc. was represented by DLA Piper.
“This Osiris deal shows our unique capacity to connect the Firm’s Corporate and Biotechnology practices,” said Michael Cochran, lead partner involved in the transaction, "MLA’s diverse team of attorneys ensured that we met our client’s needs from every angle.”
MLA assists in identifying and analyzing global government procurement trends, as well as assessing the risks associated with investing in companies that receive U.S. federal and state funding. Our multi-disciplinary investment counseling and legal team includes government affairs directors, corporate and finance attorneys, and science advisors, who can speak to the strength of company portfolios and proposed technical solutions. Our team members regularly assist clients with forecasts, due diligence reviews, and investment transactions.
Osiris Therapeutics, Inc. is a leading stem cell therapeutic company focused on developing and marketing products to treat medical conditions in the inflammatory, orthopedic, and cardiovascular areas. Osiris’ stem cell products have significant therapeutic potential because of their ability to regulate inflammation, promote tissue regeneration and prevent pathological scar formation.
For more information regarding MLA’s Corporate Department please contact Michael Cochran at mcochran@mckennalong.com or Wayne Bradley at wbradley@mckennalong.com.