X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Orrick, Herrington & Sutcliffe partner Brian Burr has developed a specialty in helping small biotech concerns with the kinds of key transactions that typically lead to growth. Burr, who is based in Orrick’s Silicon Valley office, has represented big pharmaceutical companies in the past, but he said he prefers the small biotech companies. With a smaller startup, he says, he can delve into the company’s strategy and feel more like part of the team. “They have the attention of senior management,” Burr said. “And you can make a bigger difference.” His most recent deal, announced Jan. 21, was for Iconix Pharmaceuticals Inc. He’s represented the Mountain View-based biotech company in past deals but none that brought revenue into the company. In the recent transaction, Iconix licensed its genomics technology to two big drug makers for about $50 million over four years. The deal helps to validate the company’s strategy, Burr said. “This is the kind of deal that makes a young company take off because they generate revenue.” In an e-mail, Burr explained, “I refer to these as make-the-company deals because these are the deals that separate the winners from the also-rans in Silicon Valley. To me, the earliest and most interesting indicator of a startup’s success is when the company attracts paying customers in major deals.” Burr said the Iconix deal signals that good things may be on the horizon for similar companies that market technology used for further research. The transaction suggests that big pharmaceutical companies may be ready to spend money again on so-called platform technology, Burr said. “One the one hand, [the deals] are important to the company,” Burr said. “On the other hand, they might signal that pharmaceutical companies are willing to spend money on research technology.” Large drug makers are key financing sources for biotechnology companies because they license products still in development, effectively funding the research. Burr’s biotech work has been picking up over the last year. He’s spending about half his time with such clients even though biotech companies comprise about one-third of his client base. “We saw a lot of financings last year and that has enabled a lot of young companies to finalize a product and get their products ready for launch,” Burr said. “That will increase deal flow.”

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.