A Faegre Drinker team led by corporate partners Steven Kennedy and Mike Stanchfield represented Miromatrix Medical Inc. — a publicly held life sciences company focused on the development of bioengineered organs composed of human cells — in its sale of the company to United Therapeutics Corporation, a biotechnology company with six FDA-approved therapies to address rare, life-threatening conditions and a pipeline that includes four ongoing registration-phase studies. The transaction is valued at approximately $140 million, including potential payments under a contingent value right.
A cross-office team of attorneys supported Kennedy and Stanchfield on this transaction, including corporate partners Brandon Mason, Jonathan Zimmerman, Lisa Pugh, Pablo Svirsky and Joshua Colburn and associates Steve Conley, Kareem Tawfic, Mel Pulles and Arsalan Memon; health care partner Amy Johnson; intellectual property partners Craig Komanecki and Kenneth Dort; benefits and executive compensation partner Page Fleeger and associate Mark Rosenfeld; real estate partner Paul Moe; labor and employment partner Nicole Truso; and senior paralegal Amra Hoso.
Miromatrix Medical Inc. is a life sciences company pioneering a novel technology for bioengineering fully transplantable human organs to help save and improve patients’ lives. It has developed a proprietary perfusion technology platform for bioengineering organs that it believes will efficiently scale to address the shortage of available human organs. Miromatrix Medical’s initial development focus is on human livers and kidneys.
Read Miromatrix Medical’s press release for more information on the deal.