Law Firm News

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Law Firm News

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Debevoise & Plimpton, LLP

The Wall Street Journal
Counsel Jennifer A. Spiegel is quoted in the article "Hedge Funds Get Warning on Use Of Merger Move."

01-11-2006

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Crowell & Moring LLP

Timothy M. Biddle Discusses Mine Safety Regulations on MSNBC
Natural Resources & Environmental Group partner Timothy M. Biddle appears on MSNBC's Scarborough Country to discuss coal industry safety and regulations. He cites the 90 percent improvement rate in mine safety achieved by the industry since the 1970s.

01-11-2006

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Covington & Burling, P.C.

Covington Ranked by Industry as Best Life Sciences Firm
WASHINGTON, D.C., January 11, 2006 - Covington & Burling announced today it was awarded worldwide first place firm rankings in the Life Sciences Industry and Life Sciences Regulatory categories. The Life Sciences Industry Super League and Life Sciences Regulatory Super League law firm rankings, published in the Practical Law Company's Cross-border Quarterly Handbook for January-March 2006, are based on an independent survey of industry and private practice lawyers. The overall life sciences rankings assess a broad range of legal services, including corporate partnering, IP, competition and antitrust, product liability, regulatory and commercial law.
The article states that Covington "represents one of the best examples of the growth of the transatlantic practice full service life sciences firm." The firm was singled out in the categories of regulatory work, commercial and partnering, pharmaceutical fraud and abuse investigations, corporate, EU competition/antitrust, intellectual property, and product liability. Twenty-three of the firm's lawyers are named as leaders in their field.
Covington has consistently been one of the leading law firms in the area of life sciences and this is the third year running that the firm has been ranked as the number one life sciences regulatory law firm. Over 150 firm lawyers, drawn from different legal disciplines, are experienced advisers to the life sciences industry.

01-11-2006

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Covington & Burling, P.C.

Covington Ranked World's Top Life Sciences Firm

WASHINGTON, D.C., January 11, 2006 - Covington & Burling announced today it was awarded worldwide first place firm rankings in the Life Sciences Industry and Life Sciences Regulatory categories. The Life Sciences Industry Super League and Life Sciences Regulatory Super League law firm rankings, published in the Practical Law Company's Cross-border Quarterly Handbook for January-March 2006, are based on an independent survey of industry and private practice lawyers. The overall life sciences rankings assess a broad range of legal services, including corporate partnering, IP, competition and antitrust, product liability, regulatory and commercial law.

The article states that Covington "represents one of the best examples of the growth of the transatlantic practice full service life sciences firm." The firm was singled out in the categories of regulatory work, commercial and partnering, pharmaceutical fraud and abuse investigations, corporate, EU competition/antitrust, intellectual property, and product liability. Twenty-three of the firm's lawyers are named as leaders in their field.

Covington has consistently been one of the leading law firms in the area of life sciences and this is the third year running that the firm has been ranked as the number one life sciences regulatory law firm. Over 150 firm lawyers, drawn from different legal disciplines, are experienced advisers to the life sciences industry.

For details on the firm's life sciences rankings, please see the accompanying article.

01-11-2006

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Cooley Godward Kronish LLP

EntreMed Completes Acquisition of Miikana Therapeutics
ROCKVILLE, Md., Jan. 11 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced that it has completed the acquisition of Miikana Therapeutics, Inc.

James S. Burns, EntreMed President and Chief Executive Officer, commented on closing the transaction, "The closing of the Miikana acquisition represents a significant step forward for EntreMed in building a strong oncology and inflammation drug business. In addition to EntreMed's two lead oncology compounds, Panzem(R) NCD and ENMD-1198, we will add a second Phase 2 oncology compound, MKC-1, plus two novel preclinical compounds, an aurora kinase inhibitor and an HDAC inhibitor."

Mr. Burns commented further, "This transaction represents a cost-effective method of acquiring a Phase 2 oncology product candidate and two preclinical oncology programs. Since the company operated using a virtual business model, we will not incur substantial integration costs as the acquisition will be supported by the existing infrastructure. Costs going forward will be associated directly with advancing Miikana's clinical and preclinical programs. On a combined basis in 2006, we will have two Phase 2 oncology product candidates, a Phase 1 oncology compound, and will be working toward the filing of an IND for Panzem(R) (2ME2) in rheumatoid arthritis. We look forward to working with the Miikana team and to incorporating the MKC-1, aurora kinase, and HDAC programs into our pipeline."

Under the terms of the transaction, announced December 22, 2005, EntreMed, Inc. will issue up to 9,964,000 shares of its common stock in exchange for all of Miikana's outstanding Series A & B preferred and common stock. EntreMed will not assume outstanding Miikana options or warrants and each option or warrant will be exercised or terminated. EntreMed may pay up to an additional $18 million upon achievement of clinical and regulatory milestones associated with preclinical product candidates that have been developed internally by Miikana. Such additional payments will be made in cash or shares of stock at EntreMed's option.

SG Cowen & Co., LLC acted as financial advisor and Arnold & Porter, LLP acted as legal advisor to EntreMed. HSBC Securities (USA) Inc. acted as financial advisor and Cooley Godward LLP acted as legal advisor to Miikana.

About EntreMed

EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) NCD (2-methoxyestradiol or 2ME2), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as in preclinical development for rheumatoid arthritis. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell cycle regulation and inflammation -- processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company's website at http://www.entremed.com and in various filings with the Securities and Exchange Commission.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under "Risk Factors," including risks relating to the need for additional capital and the uncertainty of additional funding; risks associated with the integration of Miikana and its product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).

01-11-2006

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Cooley Godward Kronish LLP

EntreMed Completes Acquisition of Miikana Therapeutics
ROCKVILLE, Md., Jan. 11 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced that it has completed the acquisition of Miikana Therapeutics, Inc.
James S. Burns, EntreMed President and Chief Executive Officer, commented on closing the transaction, "The closing of the Miikana acquisition represents a significant step forward for EntreMed in building a strong oncology and inflammation drug business. In addition to EntreMed's two lead oncology compounds, Panzem(R) NCD and ENMD-1198, we will add a second Phase 2 oncology compound, MKC-1, plus two novel preclinical compounds, an aurora kinase inhibitor and an HDAC inhibitor."
Mr. Burns commented further, "This transaction represents a cost-effective method of acquiring a Phase 2 oncology product candidate and two preclinical oncology programs. Since the company operated using a virtual business model, we will not incur substantial integration costs as the acquisition will be supported by the existing infrastructure. Costs going forward will be associated directly with advancing Miikana's clinical and preclinical programs. On a combined basis in 2006, we will have two Phase 2 oncology product candidates, a Phase 1 oncology compound, and will be working toward the filing of an IND for Panzem(R) (2ME2) in rheumatoid arthritis. We look forward to working with the Miikana team and to incorporating the MKC-1, aurora kinase, and HDAC programs into our pipeline."
Under the terms of the transaction, announced December 22, 2005, EntreMed, Inc. will issue up to 9,964,000 shares of its common stock in exchange for all of Miikana's outstanding Series A & B preferred and common stock. EntreMed will not assume outstanding Miikana options or warrants and each option or warrant will be exercised or terminated. EntreMed may pay up to an additional $18 million upon achievement of clinical and regulatory milestones associated with preclinical product candidates that have been developed internally by Miikana. Such additional payments will be made in cash or shares of stock at EntreMed's option.
SG Cowen & Co., LLC acted as financial advisor and Arnold & Porter, LLP acted as legal advisor to EntreMed. HSBC Securities (USA) Inc. acted as financial advisor and Cooley Godward LLP acted as legal advisor to Miikana.
About EntreMed
EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) NCD (2-methoxyestradiol or 2ME2), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as in preclinical development for rheumatoid arthritis. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell cycle regulation and inflammation -- processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company's website at http://www.entremed.com and in various filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under "Risk Factors," including risks relating to the need for additional capital and the uncertainty of additional funding; risks associated with the integration of Miikana and its product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).

01-11-2006

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Cleary, Gottlieb, Steen & Hamilton, L.L.P.

Home Depot in $3.5 Billion Hughes Acquisition, Largest-Ever Wholesale Supply Transaction
Cleary Gottlieb is representing Home Depot in its acquisition of Hughes Supply for $3.5 billion. The merger marks the largest-ever transaction in the wholesale supply sector and Home Depot’s largest acquisition to-date, surpassing last year's acquisition of National Waterworks on which Cleary also advised. The transaction is subject to regulatory clearance and approval by the stockholders of Hughes.

Founded in 1978, Home Depot is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2004 sales of $73.1 billion. Hughes, founded in 1928, is one of the nation's largest diversified wholesale distributors of construction, repair and maintenance-related products, with more than 500 locations in 40 states. The addition of Hughes more than doubles the size of Home Depot Supply with projected 2006 combined sales approaching $12 billion.

Practice Groups: Mergers, Acquisitions and Joint Ventures

01-11-2006

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