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JWS acts on global pharmaceutical deal

JWS acts on global pharmaceutical deal

Johnson Winter & Slattery has advised a global biopharmaceutical company on its investment in ASX-listed ChemGenex Pharmaceuticals.

JOHNSON Winter & Slattery has advised global biopharmaceutical company and relationship client Cephalon, Inc. on its investment in ASX-listed ChemGenex Pharmaceuticals.

Caphalon announced last week that it had signed a convertible note sbscription agreement with the Australian-based oncology focused biopharmaceurtical company.

Under the agreement, Cephalon will provide up to A$15 million to ChemGenex in return for a note that is convertible at A$0.50 per share.

The company said the funding would support ChemGenex operations, including clinical activities to complete a planned New Drug Application submission to the US Food and Drug Administration for omacetacine, for the treatment of chronic myelogenous leukemia patient.

NASDAQ-listed Cephalon is one of the world’s fastest-growing biopharmaceutical companies, employing approximately 4,000 people worldwide and selling more than 150 products in nearly 100 countries.

As part of the transaction, Cephalon will enter into call options over 19.9 per cent of ChemGenex's issued capital with two of ChemGenex's major shareholders, European pharmaceutical companies Stragen and Merck.

Advising on the deal were Johnson Winter & Slattery corporate partners Damian Reichel and Tim Bowley.

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