Firm advises Warburg Pincus as the largest selling shareholder in the $206 million proposed sale of Allos Therapeutics to Spectrum Pharmaceuticals.
On April 5, it was announced that Spectrum Pharmaceuticals and Allos Therapeutics, Inc. have signed a definitive agreement under which Spectrum will acquire all of the outstanding shares of Allos. The upfront portion of the transaction is valued at up to $206 million on a fully-diluted basis, and $108 million net of Allos’ cash balance at the end of 2011. Willkie advised Warburg Pincus, Allos’ largest shareholder, in the transaction. Westminster, Colo.-based Allos Therapeutics is a biopharmaceutical company committed to the development and commercialization of innovative anti-cancer therapeutics. Biotechnology company Spectrum Pharmaceuticals, based in Henerson, Nev., has a primary focus in oncology and hematology. The deal was handled by partners Steven Gartner and Mark Cognetti and associate Marit Spekman.