Foley Hoag Team Represents NextCODE Health, LLC in Sale to WuXi Genomics
January 13, 2015
A Foley Hoag LLP legal team advised NextCODE Health, LLC in its sale of its wholly-owned operating subsidiary, NextCODE Health Luxembourg, S.a.r.l. to WuXi Genomics, Inc., the firm announced today.
Founded in 2013, NextCODE Health is a leading genomic analysis and bioinformatics company with operations focused in the United States and Iceland.
WuXi plans to merge NextCODE Health and WuXi's Genome Center into a new company to be named WuXi NextCODE Genomics. The business will be headquartered in Shanghai, with operations in Cambridge, Massachusetts, and Reykjavik, Iceland.
The acquisition lays the groundwork for the creation of an integrated global enterprise with unique advantages for applying genomics to medicine. It broadens and enhances WuXi's existing genomic laboratory services for biopharmaceutical research and clinical development, as well as NextCODE's unique capabilities in genome analysis.
Members of NextCODE Health involved in the sale include ARCH Venture Partners, Polaris Partners and Amgen Inc.’s Icelandic subsidiary, deCODE Genetics. NextCODE Health is built around technology licensed from deCODE genetics after deCODE genetics was acquired by Amgen in December 2012. Founded in 1996, deCODE genetics is a global leader in analyzing and understanding the links between the genome and disease susceptibility.
The WuXi Genome Center was established in 2011 to provide next-generation sequencing solutions to academics, the life science industry, and medical institutions to advance personalized medicine.
The leadership of WuXi NextCODE Genomics will include Dr. Ge Li as CEO, Edward Hu as CFO, Hannes Smarason as COO, Dr. Jeffrey Gulcher as CSO, Dr. Hongye Sun as CTO, and Dr. Hakon Gudbjartsson as VP Informatics.
About Foley Hoag LLP
Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and business services professionals contribute to the exceptional service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.