On 15 December 2011, Sinclair IS Pharma plc ("Sinclair IS Pharma"), the AIM listed international specialty pharmaceutical company, announced the completion of its £21 million acquisition of Advanced Biotechnologies, Inc ("ABT").
ABT is a Florida incorporated dermatological products company focussed on scar treatment and prevention. The acquisition gives Sinclair IS Pharma worldwide ownership rights of ABT's flagship scar prevention and treatment product, Kelo-cote®. The consideration payable by Sinclair IS Pharma under the terms of the deal was satisfied by a combination of cash and new shares in Sinclair IS Pharma which were admitted to trading on AIM on 15 December 2011.
Fasken Martineau's London office advised Sinclair IS Pharma in connection with the acquisition. The Fasken Martineau team comprised Abayomi Akinjide, Peter Rhodes, Michael Kashis and Kathryn Lynne (corporate/securities), Stuart Richards and Antonina Nijran (IP/commercial) and Paul Yerbury and Rakesh Jhally (tax).