15
Fri, Nov
74 New Articles

CMS and DLA Piper Advise Ovoca Bio on Ivix Acquisition

CMS and DLA Piper Advise Ovoca Bio on Ivix Acquisition

Russia
Typography

CMS Russia and DLA Piper have advised Dublin-based life sciences investor Ovoca Bio Plc on its acquisition of Russian drug development company Ivix.

According to CMS, the transaction represents a strategic move by Ovoca and an opportunity to tap into the unique potential of the global demand for novel reproductive health products. “Fueled by the creativity of its researchers and the funding provided by Ovoca, Ivix is looking to develop an effective medicinal product and, following completion of the required clinical trials, to put it on the Russian and other markets,” CMS reports.

Vladimir Zenin, CMS Partner, said that such “exciting move” is transformative for Ovoca and opens a whole new era for Ovoca’s shareholders and other investors.

Ovoca Bio was formerly a gold exploration and mine development company known as Ovoca Gold. In July 2018 the company changed its name to Ovoca Bio to reflect its new business focus. Now the company aims to become a market leader in the development and commercialization of novel pharmaceutical product candidates.

Following the acquisition of Ivix, Ovoca Bio will retain the right to acquire a further participation interest to be issued by Ivix for USD 2.04 million which would increase its overall participation interest in the charter capital of Ivix by 9.9 percent. Should Ovoca Bio exercise the option, it will hold approximately a 59.9 percent interest in the charter capital of Ivix.

The CMS team was led by Partner Vladimir Zenin, who was supported by Associates Mikhail Panferov, Vladislav Eltovskiy, and Nikolai Molostov.

The DLA Piper team was led by Moscow-based Corporate Partner Leo Batalov, assisted by Senior Associate Andrei Sheetkin.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

 

Our Latest Issue