Pfizer Australia Announces Deal to Acquire ResApp Health
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ResApp Health recently announced its planned sale to Pfizer Australia, a wholly owned subsidiary of Pfizer Inc. Pfizer agrees it would acquire 100% of the shares for AUD $0.115 / share, for a total equity value of approximately AUD $100 million. ResApp directors announced a unanimous recommendation to sell, and their intent to vote their own shares accordingly. A shareholder vote is scheduled for June.
ResApp Health develops point of care diagnostics for telehealth that integrate with existing platforms. Their algorithms can diagnose disease from sounds. For example, one platform reportedly diagnoses respiratory problems based on the sound of a patient’s cough or breathing, and no physical contact is required.
The companies will also enter a Research & Development License Agreement to collaborate on products in the field of COVID-19.
In a statement, Pfizer Australia’s Lidia Fonseca stated that “this proposed acquisition and research collaboration add to our growing digital capabilities and bolster our efforts to pave a new era for digital health.” ResApp CEO Tony Keating expressed excitement, stating “the material premium and certainty of an all cash consideration is an attractive outcome for our shareholders.”
This acquisition would be the second for Pfizer this year. Earlier, it acquired ReViral, the developer of therapeutics for respiratory viruses, for $525 million.
Philip Nelson counsels clients in all stages of growth, from startups to established public companies. To jump-start young portfolios, Mr. Nelson pioneered use of special programs to cut through red tape for rapid patent allowance. For those wanting to preserve options at minimal cost, he has a tested protocol. He especially enjoys laying sophisticated patent minefields, protecting core assets with an eye to the future concept and product pipeline. No matter when he joins the team, he quickly grasps the technology and points to the best options to support the business.
Mr. Nelson builds value for investment and acquisition by working with company visionaries and scientists to describe and protect their ideas. Although the patent office likes to say “no,” he works through the objections, often speaking to patent examiners in person to negotiate for better claims. Collegial persistence and technical tutorials tend to persuade examiners, getting them to “yes.”
Mr. Nelson drafts and negotiates technology agreements and advises on big-picture strategy. When opposing diligence counsel is just pasting in a pat phrase from a template, he uses his experience from the trenches (prosecuting, negotiating, and litigating) to correct the meaning and serve his clients.
Mr. Nelson advises on contested matters, drafts litigation briefs, and works closely with litigator colleagues. He negotiates with his clients’ adversaries to avoid suit or improve litigation positions. When a competitor claimed to own his client’s invention in chemistry lab instruments, he won two patent office “interferences”—and a Federal Circuit appeal—to preserve his client’s ownership rights. He handles complex patent office trials such as interferences, derivations, and inter-partes reviews. He did reexaminations and inter-partes reexaminations back before they were cool (before the America Invents Act popularized Board proceedings).
His physics background and widely varied experience at a top intellectual property boutique for almost 20 years has created a sophisticated advocate for his clients. Mr. Nelson looks forward to helping you assess the field, build your defenses, close your deal, and rain fire on your IP problems and adversaries.
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