find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
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
Unite
07:04
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
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 & ...