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Pillsbury Winthrop wasn’t about to let the bleak U.S. market for initial public offerings get in the way of doing a deal. The firm went to Australia for an IPO. Pillsbury was the primary U.S. regulatory counsel for a June public offering of an Australian company that was opened to investors at home and in the United States, New Zealand and the United Kingdom. And the IPO was a whopper. The company, Promina Group Limited of Australia, a financial services and insurance holding company, raised $1.25 billion in U.S. dollars. “Deals like this are very exciting,” said Robert Meyers, the Pillsbury partner who led the deal. Meyers, who is based in Sydney, Australia, said, “There were a lot of naysayers who said the deal wouldn’t get done.” With equity markets in a slump and people worried about global crises like war in Iraq and SARS, the deal faced an uphill battle to get done, Meyers said. Meyers’ deal team included Sydney partner Angelique Mentis and New York partners David Early-Hubelbank and Todd Eckland. Partner Stanton Wong in San Francisco gave an assist as well. The associates on the deal included Daniel Dashiell, John Dick, Patricia Killian and Cecil� King. Pillsbury was one of a slew of law firms that had some piece of Promina’s IPO. Working principally for investment banks Goldman Sachs & Co. and Australia’s MacQuarie Bank, Pillsbury did the work that U.S. regulators required. In Australia, the firm Mallesons Stephen Jaques, with partner David Friedlander in the lead, represented the bankers. The company was represented by Philippa Stone, a partner at the Australian law firm of Freehills. The deal wasn’t any more difficult than a U.S. IPO, even though the process took about six months, Meyers said. The one catch was that the U.S. laws didn’t reign supreme, and instead, Meyers had to work around the Australian process. “It’s not the U.S. that drives the ship here,” he said. Eunoe Inc. Information technology companies may not be raising capital these days, but medical technology firms aren’t going hungry. Case in point is Eunoe Inc., a Redwood City-based medical device maker that raised $40 million last week. The company tapped Latham & Watkins partner Christopher “Kit” Kaufman for the deal. The company is moving into the final clinical study of a device that treats Alzheimer’s disease or adult onset dementia. The device, dubbed the COGNIShunt System, increases the flow of brain and spinal fluids to wash out toxins believed to contribute to the development of Alzheimer’s, according to a company statement. Backing up Kaufman for the company were associate Mark Roeder, who co-led the deal, along with associates Christopher Jaap and Peter Snow, who gave an assist. The investors putting up the capital included Domain Associates, which led the deal, CHL Medical Partners, Affinity Ventures, Schroder Ventures Life Sciences, BA Venture Partners, Piper Jaffray Ventures and Vanguard Venture Partners. Reed Smith Cosby Heafey partner Michael Sanders, who is based in Los Angeles, represented the investors.

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