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Latham & Watkins Advises Icosavax in US$1.1 Billion Acquisition by AstraZeneca

December 12, 2023
Multidisciplinary team represents the biopharmaceutical company.

Icosavax, Inc. (Nasdaq: ICVX) has announced it has entered into a definitive agreement pursuant to which AstraZeneca, through an acquisition subsidiary, will initiate a tender offer to acquire all of Icosavax’s outstanding shares for a price of US$15.00 per share in cash at closing, plus a non-tradable contingent value right to receive up to US$5.00 in cash, payable upon achievement of specified regulatory and net sales milestones.

Latham & Watkins LLP represents Icosavax in the transaction, with a corporate deal team led by Orange County partner Daniel Rees, and San Diego partners Matt Bush and Cheston Larson, with associates Nima Movahedi, Shannon Cheng, Abby Timmons, Tiana Baghdikian, and Lexi Zintel. Advice was also provided on capital markets matters by associates Nadia Patiño, Derek Rogers, and Shelby Harrison; on FDA/ regulatory matters by Washington, D.C. partner Elizabeth Richards, Bay Area partner Betty Pang, and Washington, D.C. counsel Chad Jennings, with San Diego associate Kiera Murphy; on ex-US regulatory by Paris partner Eveline Van Keymeulen, with associate Jeanne Fabre; on IP matters by Bay Area partner Chris Hazuka, with San Diego associate Robert Yeh and Los Angeles associate Michael Sweeney; on trademark matters by San Diego partner Jennifer Barry; on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with associate Nolon Blaylock; on benefits and compensation matters by San Diego partner Holly Bauer, with associate Julie Voorhes; on antitrust matters by Washington, D.C. partner Amanda Reeves and counsel Patrick English, with associate Denver Dunn; on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett*; on ex-US data privacy matters by London associate Oliver Mobasser; on CFIUS matters by Washington, D.C. counsel Catherine Hein, with Boston associate Matthew Crawford.

*Admitted to practice in New South Wales (Australia) only.