DLA Piper advises Liquidia in its acquisition of RareGen and

|Jul 6|magazine8 min read

NEW YORK, July 6, 2020 /PRNewswire/ -- DLA Piper represented Liquidia Technologies, Inc., a late-stage clinical biopharmaceutical company, in its acquisition of RareGen, LLC, a portfolio company of healthcare investment firm PBM Capital. DLA Piper also represented Liquidia in a US$75 million underwritten public offering of common stock.

RareGen provides strategy, investment and commercialization for rare disease pharmaceutical products and has a small, targeted sales force focused on pulmonary arterial hypertension (PAH). Following the acquisition, Liquidia and RareGen will consolidate under a new holding company, to be named Liquidia Corporation.

In its public offering, Liquidia sold 9.375 million shares of its common stock at a price of $8.00. All of the shares in the offering will be sold by Liquidia. In addition, Liquidia has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock at the public offering price, less the underwriting discount and commissions.

"Our depth of experience advising biotechnology, pharmaceutical and medical device companies, coupled with our market-leading M&A and capital markets capabilities, was a critical asset in closing these transactions, which will enable Liquidia to continue to pursue innovative treatment solutions that address the needs of patients," said Andrew Gilbert, global co-chair of DLA Piper's Life Sciences sector, who led the firm's deal team.

"DLA Piper is a strong legal partner and we are incredibly grateful for their valuable insights and support on the RareGen acquisition and common stock offering," said Neal Fowler, chief executive officer at Liquidia. "We look forward to continued engagement with DLA Piper and the opportunity to leverage their broad capabilities as we begin a new chapter in our company's history."

In addition to Gilbert, the DLA Piper team representing Liquidia included partner Scott Cowan and associates Brian Tribuna, Michael Goldstein and Morgan Bush (all of Short Hills).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper advises on all aspects of the life sciences sector, combining subject matter experience with considerable knowledge of the scientific, medical, regulatory, commercial and enforcement environments facing biopharmaceutical, medical device, research and diagnostics clients. Recognizing that clients' needs vary, the firm rapidly organizes and customizes client service teams, whether for a large pharmaceutical company, a mid-sized medical device client or a development-stage biotech company.

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper