Client Successes

Biomedical Advanced Research and Development Authority (BARDA)

In a move that created enormous opportunities for early-stage life sciences companies, last year the U.S. Congress revitalized the federal government’s program supporting the development of medical countermeasures critical to protecting the nation against bioterrorism and pandemic threats. The resulting legislation created an agency within the Department of Health and Human Services (HHS), the Biomedical Advanced Research and Development Authority (BARDA). BARDA will inject more than $1 billion into research, development, and procurement of vaccines, antivirals and diagnostics. BARDA enhances coordination between government and emerging companies through support of advanced research and development, the vital phase that occurs in between basic research and commercialization. On behalf of the venture capital firm, Kleiner Perkins Caulfield & Byers, Foley Hoag worked with the HHS, Congressional members, and staff to craft legislation strengthening the nation’s response to pandemic outbreaks and bioterrorism. The key financing aspect of the legislation provides much-needed funding to allow early stage companies to traverse the “valley of death” before product commercialization. The legislation authorizes the Secretary of HHS to expedite contracts and grants, and the Director of BARDA to identify areas of unmet need, spurring further innovation and investment. BARDA institutionalizes the important partnership between the federal government and the life sciences industry, critical to safety, innovation and economic vitality.

Cellulosic Biomass Conversion

Our lawyers provided general business advice and assistance with venture capital financing and technology licensing for a new corporation developing and commercializing technology for converting cellulosic biomass and other biomass wastes into ethanol.

From Protecting IP to a Successful Sale

For a venture-stage software company, our lawyers successfully enjoined the U.S. public offering of a foreign software corporation because of a corporate name conflict; created a trust to insulate the company's intellectual property from the automatic licensing provisions of a software consortium; and managed the sale of the company to a publicly-held acquirer for $460 million.

Preparing for Venture Capital Financing

We negotiated a complete reorganization of initial capital structure of our client, a computer-aided design corporation, to help them successfully prepare for outside venture capital financing.
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