Foley Hoag LLP represented Pervasis Therapeutics in connection with a sale of substantially all of Pervasis’ assets to a subsidiary of Shire plc.

The deal provided Pervasis with an upfront payment, plus potential post-closing payments that are dependent on Shire’s achievement of certain clinical-development, regulatory and net-sales milestones. The U.K.-based Shire acquired Pervasis’ lead product Vascugel, which is currently in Phase 2 development for acute vascular repair, focused on improving hemodialysis access for patients with end-stage renal disease.

Foley Hoag lawyers Jeffrey Quillen, Robert Birnbaum and Michelle Limaj represented Pervasis, which is based in Cambridge, Mass.

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