With Big Pharma shifting emphasis from developing new drugs to inventing biotech products, such as stem-cell treatments, a client of McKenna Long & Aldridge partner Michael J. Cochran appears well-positioned.
Cochran and fellow McKenna partner David K. Brown just advised Osiris Therapeutics Inc. on an agreement to commercialize two of its adult stem-cell products. The deal with Genzyme Corp. calls for an upfront payment of $130 million, but its ultimate value could reach $1.25 billion, Cochran said.
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