DRI Healthcare Trust’s Acquisition of a Royalty Interest in Worldwide Net Sales of Orserdu™
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
The Cravath team is led by partners Daniel J. Cerqueira and David J. Kappos and includes associates Christopher P. Davis, Carys J. Webb, Lavinia M. Borzi and Esther Kang on M&A and intellectual property matters; partner Paul H. Zumbro and practice area attorney Alexander Gerten on financial restructuring and reorganization matters; partners Nicholas A. Dorsey and Matthew M. Kelly and associates DongHwa Kim and Ori Oren on financing matters; and partner Christopher K. Fargo, of counsel Kiran Sheffrin and associates Duncan H. Hardell and Clayton Hackney on tax matters. Summer associate Nicholas Juan also worked on M&A matters and summer associate Vincent Joralemon also worked on intellectual property matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 2013, Harvard Law Schoolmagna cum laude
-
B.A., 2010, Cornell UniversityPhi Beta Kappa
- New York
Education
Admitted In
- Photo
-
-
J.D., 1990, University of California, Berkeley, School of Law
-
B.S., 1983, University of California, Davissumma cum laude
- New York
- California
- District of Columbia
Education
Admitted In
- Photo
-
-
J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
-
B.A., 1992, Yale CollegeDistinction in Major, cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
-
M.Acc., 2006, Case Western Reserve Universitysumma cum laude
-
B.S., 2006, Case Western Reserve Universitysumma cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2013, New York University School of LawJohn Norton Pomeroy Scholar; Benjamin Butler Scholar; Order of the Coif, magna cum laude
-
A.B., 2006, Dartmouth Collegecum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
-
B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2016, Columbia Law SchoolHarlan Fiske Stone Scholar
-
B.S., 2012, University of Wisconsin - MadisonGraduated with Distinction; Stone Scholarship in Economics
- New York
Education
Admitted In
- Photo
-
-
J.D., 2013, Brooklyn Law Schoolmagna cum laude
-
B.A., 2010, Wesleyan University
- New York
Education
Admitted In
Related News
Deals & Cases
November 13, 2024
Just Eat Takeaway.com’s Sale of Grubhub to Wonder
On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.
Deals & Cases
October 25, 2024
L&G’s Investment in Taurus Investment Holdings
On October 25, 2024, Legal & General (“L&G”), one of the U.K.’s leading financial services groups and a major global investor, announced its strategic investment in Taurus Investment Holdings, LLC (“Taurus”), a Boston‑based, global real estate private equity firm, alongside an initial commitment of up to $200 million in seed capital to multifamily real estate. Cravath is representing L&G in connection with the transaction.
Deals & Cases
July 16, 2024
Atalaya Capital Management’s Sale of its Business to Blue Owl Capital
On July 16, 2024, Atalaya Capital Management LP (“Atalaya Capital Management”), a privately‑held alternative credit manager, and Blue Owl Capital Inc. (“Blue Owl Capital”), an alternative asset manager, announced that they have entered into a definitive agreement for Blue Owl Capital to acquire the business of Atalaya Capital Management for $450 million. The closing purchase price of $450 million is comprised of $350 million of Blue Owl equity and $100 million of cash. In addition, there is potential for up to $350 million of earnout consideration in the form of equity, subject to certain adjustments and achievement of future revenue targets. Cravath is representing Atalaya Capital Management in connection with the transaction.
Deals & Cases
May 28, 2024
UScellular’s $4.4 Billion Sale of Wireless Operations and Select Spectrum Assets to T‑Mobile
On May 28, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into a definitive agreement to sell its wireless operations and select spectrum assets to T‑Mobile for a purchase price of $4.4 billion, including a combination of cash and up to approximately $2 billion of assumed debt. Under the terms of the agreement, T‑Mobile will acquire UScellular’s wireless operations and approximately 30% of its spectrum assets across several spectrum bands. In addition, T‑Mobile will enter into a new master license agreement with UScellular on more than 2,000 towers. The agreement follows a thorough strategic review process announced in August 2023 and has been unanimously recommended by the independent directors of UScellular and unanimously approved by the Board of Directors of UScellular. Cravath is representing the independent directors of UScellular in connection with the transaction.
