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Matheson Advises Longitude Capital on Sale of Portfolio of Royalty Interests to HLS

AUTHORs: Alan Keating Date: 28/10/2020

Matheson recently acted as Irish legal and tax counsel for CrownWheel Partners LLC (a company that provides liquidity and financing solutions to royalty owners and companies in the global healthcare sector) in connection with the sale of certain entities that held the rights to a portfolio of royalty interests on global sales of four different products to HLS Therapeutics Inc. (a specialty pharmaceutical company focused on the acquisition and commercialisation of late-stage development, commercial-stage promoted and established branded pharmaceutical products in the North American markets).  CrownWheel itself is a wholly-owned portfolio company of Longitude Capital, a venture capital firm that invests in biotechnology and medical technology solutions companies.

Sandip Agarwala, Managing Director of Longitude Capital, who led the negotiation of the transaction with HLS, commented:  “This transaction represents a significant milestone for us.  We were delighted to have worked again with Matheson – having Irish counsel in the same time-zone as us was instrumental in executing this transaction in a timely and efficient manner.”

Alan Keating, New York Resident partner in Matheson’s Finance and Capital Markets Department, who led the Matheson team advising on the transaction, commented:  “We were delighted to have worked with CrownWheel Partners and Longitude Capital on yet another very successful transaction as part of their overall investment strategy.”