Area: M&A

Value: Undisclosed

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Key players: Andrew Walker led the transaction

Deal significance: Mills Oakley acted for Ampliphi in a share exchange transaction to acquire Special Phages Services. The terms of the acquisition has resulted in AmpliPhi offering up to 40 million shares of its common stock in exchange for 100 per cent of the fully diluted share capital of Special Phages Services (approximately 22.7 million shares outstanding as of 7 September 2012). Twenty million AmpliPhi shares would be held in escrow: Eight million to satisfy potential warranty claims by Ampliphi under the transaction documents and the remaining 12 million shares to be held pending completion of certain milestones. The deal results in the creation of a leading anti-infective company focused on developing phage-based therapies to fight the growing threat of antibiotic-resistant infection