Hughes Hubbard acted as legal adviser to Arsia Therapeutics in its sale to Eagle Pharmaceuticals.
The deal, announced on Nov. 11, 2016, will expand Eagle's formulation and development expertise into biosimilars. Under the terms of the agreement, Eagle will pay approximately $30 million in cash and stock at closing and up to $48 million in additional payments.
"I am delighted that the Arsia scientific team will become part of Eagle, particularly because of our shared dedication to the development of innovative, patient-friendly dosage forms," said Amy Schulman, Arsia's CEO and former general counsel at Pfizer Inc. "Eagle's wealth of experience in this area will be key to bringing Arsia-enabled products to market."
Eagle is a specialty pharmaceutical company focused on developing injectable products, primarily in the areas of critical care, orphan diseases and oncology.
Based in Cambridge, Mass., Arsia develops biologics with low viscosity, which makes them candidates for subcutaneous injection rather than intravenous infusion.
The deal drew coverage in The Wall Street Journal, Reuters and other news outlets.
Chuck Samuelson led the HHR team, which included Paul Yakulis, Jerry Harrison, Shane Stroud, Andy Braiterman, Matt Syrkin, Erin DeCecchis, Ariel Woldar, Justin Cohen and Genevieve Perez.