Firm Advises on Sale of Talon Therapeutics to Spectrum Pharmaceuticals

July 17, 2013

Willkie represents Warburg Pincus, as controlling stockholder of Talon, in the deal.

On July 17, Talon Therapeutics, Inc. announced that a subsidiary of Spectrum Pharmaceuticals, Inc. entered into an agreement to purchase approximately 89% of the outstanding shares of Talon directly from the company's principal stockholders. Willkie represented Warburg Pincus, as controlling stockholder of Talon, in the deal.

Spectrum also entered into an agreement with Talon under which the subsidiary of Spectrum will purchase additional shares from the company that, together with the shares acquired from the company's principal stockholders, will represent in excess of 90% of the outstanding shares of Talon. Spectrum will acquire the remaining outstanding shares of Talon common stock through a "short-form" merger of the subsidiary of Spectrum into the company.

Talon Therapeutics, Inc. is a San Francisco Bay Area-based biopharmaceutical company that leads product candidates through clinical development, and transfers value to patients, patient care providers, shareholders corporate partners and employees. Spectrum Pharmaceuticals is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology.

The deal was handled by partners Steven Gartner and Robert Langdon and associates Michael Brandt and Tej Prakash.