26 February 2007

Freshfields Advises Linde on Sale of INO Therapeutics

Linde AG has agreed to sell INO Therapeutics, its wholly owned subsidiary, to a newly-formed company led by New Mountain Capital, the US private equity firm.  Under the terms of the agreement, Linde will receive approximately €380m in cash and a 17 per cent stake in the newly-formed company, which will combine INO with Ikaria Inc., a private, U.S. biotechnology company.

INO operates in the critical care market and focuses on the development, marketing, and selling of proprietary drug-device combination products targeted at in-hospital treatment of respiratory diseases and other related ailments in the critical care market through inhaled nitric oxide therapy.

International law firm Freshfields Bruckhaus Deringer is advising Linde in the transaction.

The Freshfields team was led by New York corporate partner Matthew Herman, and included the following US/European team: 

New York: Quirijn Biesheuvel (associate, corporate), Sheena Singla (associate, corporate) and Lara Brook (associate, corporate) 

Washington DC: Claude Stansbury (partner, Tax), Paul Yde (partner, ACT) and Tom Ensign (associate, ACT) 

London:  Richard Lister (partner, Intellectual Property), Jodie Flynn (counsel, Intellectual Property) and Giles Pratt (associate, Intellectual Property)  

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