find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Deacons helps biotech de-merger

Deacons helps biotech de-merger

Deacons represented Amrad Corporation Limited in the $24 million de-merger of the company’s anti-infectives business, Avexa Limited which listed on the ASX on 23 September.Amrad is an…

Deacons represented Amrad Corporation Limited in the $24 million de-merger of the company’s anti-infectives business, Avexa Limited which listed on the ASX on 23 September.

Amrad is an Australian drug discovery and biotechnology development company. Its in-house R&D team is developing therapies that could become early market entrants and new drug classes for the treatment of major diseases including HIV/AIDS, Hepatitis B and antibiotic resistant bacterial infections.

The law firm said that under a scheme of arrangement the Amrad shareholders approved a capital reduction and de-merger Avexa Limited.

Amrad invested $12 million cash to retain a 19.9 per cent shareholding in Avexa, which it has agreed to voluntarily escrow for two years. The remainder of the shares in Avexa are owned on a pro-rata basis by Amrad shareholders. Avexa’s initial listing price was $0.30 per share.

Deacons’ Melbourne corporate and commercial partner Rod Lyle and senior associate Stephen Blank led Deacons’ team. They worked closely with Amrad’s CEO Dr Pete Smith, Director of Finance and Administration Alan Boyd and general counsel Robyn Fry, as well as KPMG.

Dr Hugh Niall has recently been appointed as chairman of Avexa and Dr Julian Chick will take over as Avexa’s CEO.

Deacons said the market views the de-merger very positively as it allows both Amrad and Avexa to concentrate on their areas of expertise.

Deacons corporate and commercial partner Bernard O’Shea is continuing to assist both Amrad and Avexa with the post de-merger transition process and their respective R&D initiatives.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Deacons helps biotech de-merger
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Oct 19 2017
‘Ego status’ compelled ex-lawyer to defraud $2.97m, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
Oct 19 2017
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
Oct 19 2017
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...