After confirming the addition of a 14-partner group from Troutman Pepper Hamilton Sanders last week, leaders at Goodwin Procter said they have a 12-month plan to move their nascent Philadelphia life sciences, private equity and white-collar practices from a temporary sublease to a permanent office location. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Troutman Pepper on LinkedIn: Jennifer Porter Interviewed by Applied Philadelphia Business Journal's Post - LinkedIn As cell and gene therapy manufacturing demand is expected to continue to outpace capacity, the Discovery Labs and CBM will help support the growth of Philadelphias cell and gene therapy companies. That's cool, just keep on chasing Gen Z while writing off the generation with actual spending power! Private companies contemplating reverse mergers need to be mindful of certain considerations. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. They can be completed faster than a traditional IPO, but require a vote of the SPAC shareholders, and carry the same lack-of-stabilization risks post-merger. That's why attractive reverse merger targets typically have cash on hand, and why there is often a side-by-side Private Investment in Public Equity (PIPE) to raise additional funds, ideally putting the private company in the position it would have been in, funding-wise, post-IPO. Temple Women are Everywhere!! Through 2021 and 2022, the SEC increased its rulemaking regarding SPACs. In the life sciences space, the reverse merger is often into a public life sciences company that has cash on hand and has experienced a failed clinical program. Porter: Sponsors have been receptive to these guidances and, in fact, appreciate the clarity they can offer. Sponsors face the challenge of designing development plans and timelines to meet moving targets with respect to CMC requirements, clinical trial endpoints and criteria for approval. Her recent matters include: * Denotes experience prior to joining Goodwin. First, the matchmaking process can be difficult as several private companies are turning to this alternative, so competition is high. #philadelphia #greaterphiladelphia #womenofdistinction #lifesciences #lawyer, Executive Director, Girls on the Run Philadelphia, MossRehab will have a prominent role in the transformation, which will see the hospital's emergency room close on June 30. In a typical SPAC structure, a SPAC goes public through the traditional IPO process, raising significant capital, and then has a limited amount of time to find a private company candidate to merge into it through a reverse merger. Rights. A recent major addition to Cellicon Valley is Discovery Labs and the Center for Breakthrough Medicine (CBM). , President & CEO at Aro Biotherapeutics Company. Despite the DOJs difficulty in securing jury convictions, the guilty plea by VDA and the Biden administrations stated policy of trying to protect #employees from what it perceives to be unreasonable restraints suggest that the DOJ will continue to indict businesses and individuals for alleged Section 1 violations involving no-poach agreements or #wagefixing. Philadelphia Business Journal announces 2022 Women of Distinction In addition to working within these guidelines, sponsors should maintain an open dialogue with FDA with regard to development plan, clinical trial design and manufacturing plans and procedures. Popular Topics by This Author. j***@troutman.com. Efforts to integrate clients, systems, spaces and cultures under tight time restraints is an immense undertaking that affects populations across both firms including the #alumni networks. She can be reached at jennifer.porter@troutman.com. Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. Finally, how important is it for the private company to acquire legacy assets from a merger partner? For life sciences companies, pivoting in a down market. Epps!! Temple Women are Everywhere!! Las Vega. BenefitsPro Broker Expo will help attendees prepare for new issues, embrace new challenges and find new solutions. https://lnkd.in/eGrEkihW, Drexel University Alumni's 40 Under 40 https://lnkd.in/eJK-PRMH Follow the Temple Women's Network, Congratulations toLynne Holden, MD -Temple University Lewis Katz School of Medicine and 2023 Gallery of Success Honoree!! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Troutman Pepper was proud to sponsor and speak at the ACC Greater Philadelphia In-House Counsel Conference. Demand for IPOs has taken a nosedive thanks to geopolitical instability, near-record levels of inflation, and rising global interest rates, leading the money raised by 2022's U.S. IPOs to be trending toward roughly 5%, of what was raised in 2021, according to EY Global IPO Trends. Troutman Pepper Partner Jennifer Porter has played a critical role in a number of life sciences mergers and acquisitions, including Collegium Pharmaceutical's Opportunities to give can be found here - https://lnkd.in/eGrEkihW She was a Legal intern for Judge Theodore McKee, United States Court of Appeals for the Third Circuit from 2006 to 2007. #templemade Denise DaPonte's Post - LinkedIn Temple Women's Network, Celebrating 2023 Temple Made Days with our TWN Honorees to the Gallery of Success! Consider a donation to the area that matters the most to you Today's the day!! It was especially insightful to hear their thoughts about a career in Marketing & Communications. How receptive have sponsors been to the various guidance and what. Read More. While a SPAC initially raises a significant amount of capital in its IPO, SPAC IPO investors have the right, in connection with a later proposed merger, to have their shares redeemed by the SPAC, which depletes the cash held in trust for the company that merges with the SPAC. Jennifer L. Troutman's office is located at 4401 Penn Ave, Pittsburgh, PA. Whether these rules slow the popularity of SPACs, or give them more credibility, remains to be seen. Jennifer also regularly counsels boards and senior management on a broad range of governance strategic matters, including fiduciary duties, compliance issues, and organizational matters. Women of Distinction 2022: Jennifer Porter, Troutman Pepper Hamilton Be sure to 'Follow' TWN and stay connected with them all!! Troutman Pepper's alumni relations professionals, Erin Warner and Clare Roath, recently published an article in Law360 discussing the importance of law firm management's mindfulness of alumni engagement efforts during a #merger. Porter: Philadelphias Cellicon Valley continues to grow. Q&A With Jennifer Porter, partner, Troutman Pepper. Rachael Bushey and Jennifer Porter are regular, joint contributing columnists on the life sciences industry for Reuters Legal News and Westlaw Today. Gresh, a licensed professional geologist, has dedicated her 20+ year career to supporting the environmental needs of private and public sector clients in the Mid-Atlantic Region. Association of Childhood International Association Teacher Education, 1999/2000. Temple Women's Network, Troutman Pepper Partner Jennifer Porter has played a critical role in a number of life sciences mergers and acquisitions, including Collegium Pharmaceutical's $604 million acquisition of BioDelivery Sciences International. Until economic conditions are once again attractive enough for private biotech and pharmaceutical companies to pursue IPOs, reverse mergers and SPAC mergers will be viable alternatives. The industry leader for online information for tax, accounting and finance professionals. 2023 MJH Life Sciences and Applied Clinical Trials Online. Check out the topics we will be covering below or click the link to learn more. Jennifer L. Troutman's office is located at 4401 Penn Ave, Pittsburgh, PA. View the map. In addition to general office management, her responsibilities included business planning, revenue tracking, business and staff development, and environmental project management. And, in the second quarter of 2022, both the number of biotech IPOs and the value of the companies that went public via IPO were the lowest since at least the first quarter of 2017, according to Fierce Biotech, a news website for the biotech industry. In addition, this type of manufacturing requires skilled operators, and manufacturers are facing the same labor challenges seen in the rest of the economy. A reverse merger occurs when a private company acquires a majority stake in a publicly held company, which then absorbs the formerly private company. For the next 24 hours,you canto show your support in the areas that matter most to you. #philadelphia #greaterphiladelphia #construction #development, We asked Philadelphia mayoral candidates for rapid-fire responses on a number of key topics. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. Philadelphia 'Heavy Hitters' Exit Troutman Pepper, Casting Doubts on Merger Success, Big Law's Latest Growth Strategy? Jennifer Porter's Instagram, Twitter & Facebook on IDCrawl Join us in congratulatingJennifer Gresh, Mid-Atlantic Environmental Practice Leader at Verdantas. Fourth, who would be the investors in the PIPE? #templemade Westlaw Today is owned by Thomson Reuters and operates independently of Reuters News. Learn from some of the nations leading construction mediatorsincluding dos and donts, and what they wish every #attorney mediating before them would keep in mind. Copyright 2023 ALM Global, LLC. Either option will likely require a PIPE, but that funding will be more crucial for a SPAC. Accordingly, clients should be careful when seeking to limit the movement of their employees in agreement with competitors or discussing their employees pay with competitors. The firm is currently subletting in the City of Brotherly Love, but it hopes to land permanent space for a "critical mass" of 50 attorneys within the next year. Troutman Porter L., Julian, A Case Study, Educators Healing Racism . As home to the University of Pennsylvania, Children's Hospital of Philadelphia, & Jefferson Health, Philadelphia has seen the advancement of key cell and gene therapy leaders, such as Dr. Carl June and Dr. Jim Wilson. Who knew!? If the answer is "very," a reverse merger will likely be the better option. Porter: The biggest issues were seeing for ATMP sponsors as we move out of the pandemic are related to manufacturing and financing. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Jennifer focuses primarily on the representation of public and private pharmaceutical, biotechnology, and medical device companies, advising on a broad range of complex transactions and corporate matters, including capital markets transactions, mergers and acquisitions, Securities Exchange Act reporting, corporate governance, licensing and collaboration transactions, and other strategic transactions. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Tag them in the comments for consideration. Christina Kahmar-McGinley, CFRE. His attendance was poor (he nearly missed a third of the classes) and he continued to change the due dates on projects. 2. Jennifer Porter, a partner in Troutman Pepper's #HealthSciences Department, was recognized among the 2022 #Women of Distinction by the Philadelphia Business Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms financials, staffing, clients, news and events. We are pleased to introduce our new Charlotte Office Managing Partner Jason Evans. 2023 MJH Life Sciences and Applied Clinical Trials Online. If the U.S. Securities and Exchange Commission closely scrutinizes the deal (which has been a recent trend), the private company might need to consider securing bridge financing from existing investors to buy it time until closing. The complexities of #lawfirm mergers are vast. Troutman Pepper is proud to announce that we will be hosting the 2023 Philadelphia Alliance for Capital and . Where is Jennifer L. Troutman's office located? When leaders of private biotech and pharmaceutical companies and their in-house counsel are contemplating a reverse merger or SPAC merger as an IPO alternative, they must be cognizant of the pros and cons of each so they can avoid doing more harm than good to their company's valuation, reputation, and prospects. The newest proposed rule, if implemented, would bar employers from entering into noncompete agreements with their workers and require employers to rescind existing noncomplete restrictions with current and former workers. Dr. Porter Troutman, UNLV The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Troutman Pepper's alumni relations professionals, Erin Warner and Clare Roath, recently published an article in Law360 discussing the importance of law firm management's mindfulness of alumni engagement efforts during a #merger. TWN is excited to share the news that JoAnne A. Epps has been named Acting President for Temple Universityhttps://lnkd.in/eJZNk_Vf Additionally, the target company needs to be careful to understand the public company's assets and conduct thorough diligence to understand what liabilities it could be taking on. https://lnkd.in/eS_krevS Jennifer Porter's competencies. Contact Number Law Offices of Gary Martin Hays & Associates A cold front passes through the health care and life sciences IPO market. Congratulations to Temple University's Acting President JoAnne A. Jennifer L. Troutman, NP | Pittsburgh, PA - US News Health Congratulations! They have also lived in Brookhaven, PA and Mechanicsburg, PA. Third, who would be the potential SPAC sponsors? With valuations falling due to industry pressures, startups are hesitant to go public for fear of locking in lower valuations and providing less-than-stellar returns to their early investors. Meeting projected time to market can be critical for these companies with respect to securing continued financing. There are limited manufacturers with the expertise and facilities to manufacture cell and gene therapy products. Porter: Philadelphia's Cellicon Valley continues to grow. Goodwin lawyers currently inhabit temporary space in the Cira Center. Chuck Sensiba is presenting during the Tools of the Trade: Skill-Building and Applications for Negotiations Techniques, workshop #philadelphia #greaterphiladelphia #mayoralelection #government #politics, The 18.5-acre farmland estate in Montgomery County has 10 different buildings on the property, including a historic home that was once a school and outbuildings used as a gym, a greenhouse, event space and even a soap-making space. About Us| Audio recording clip of interview with Dr. Porter Troutman by Claytee D One Year In, SECs Gensler Has Delivered a Rulemaking Storm, Q&A With Jennifer Porter, Partner, Troutman Pepper, Century Therapeutics, Inc. in its $242.7 million initial public offering*, Collegium Pharmaceutical, Inc. in its $143.75 million offering of senior convertible notes*, Larimar Therapeutics, Inc. in its $80.5 million underwritten public follow-on offering*, Larimar Therapeutics, Inc. in its $80 million private placement*, Ocugen, Inc. in its $100 million registered direct offering*, Ocugen, Inc. in its $53.5 million public follow-on offering*, Societal CDMO, Inc. in its $35.6 million concurrent public offerings of common and preferred stock*, Recro Pharma, Inc. in its $30.0 million underwritten public follow-on offering*, TELA Bio, Inc. in its $57 million initial public offering*, TELA Bio, Inc. in its $55.2 million underwritten public follow-on offering*, TELA Bio, Inc. in its $36.8 million underwritten public follow-on offering*, Windtree Therapeutics, Inc. in its underwritten public offering and uplisting to Nasdaq*, Zynerba Pharmaceuticals, Inc. in its $57.5 million underwritten public follow-on offering*, Zynerba Pharmaceuticals, Inc, in its $48.3 million initial public offering*, Represented underwriters in multiple equity offerings and at-the-market offerings for life sciences issuers*, Collegium Pharmaceutical in its $604 million acquisition of BioDelivery Sciences International*, Eli Lilly and Company in its acquisition of Disarm Therapeutics for up to $1.22 billion*, Collegium Pharmaceutical in its $375 million acquisition of the nucynta franchise of products from Assertio*, Chondrial Therapeutics in its reverse merger with Zafgen, Inc. to form Larimar Therapeutics, and concurrent $80 million private placement*, Renovacor, Inc. in its sale to Rocket Pharmaceuticals, Inc.*, Societal CDMO, Inc. in its $50 million acquisition of IRISYS, a San Diego-based CDMO*, Recro Pharma, Inc. in its $175 million acquisition of a phase two product candidate and a manufacturing, formulation, and development business*, Renovacor, Inc. in its merger with SPAC Chardan Healthcare Acquisitions 2 Corp. and concurrent private placement*, ALKA bello in its acquisition of Otiprio and in other acquisitions and divestitures*, Panelist, Key Strategies for Navigating Your Career , Association of Corporate Counsel (ACC) Greater Philadelphia Chapter -Womens Summit, November 16, 2022, Panelist, State of the Market: Trends and Issues in Health Care and Life Sciences Transactions, ACC Greater Philadelphia In-House Counsel Conference, May 4, 2022, Co-Author, SECs Division of Corporation Finance Revises CD&Is on Non-GAAP Financial Measures, Troutman Pepper, December 16, 2022, Co-Author, SEC Proposes Rule Amendments for Beneficial Ownership Reporting, Troutman Pepper, February 28, 2022, Co-Author, SEC Proposes Rule Changes Shortening the Securities Settlement Cycle to T+1 By March 31, 2024, Troutman Pepper , February 28, 2022, Co-Author, SEC Proposes Rule Amendments Relating to Rule 10b5-1 and Insider Trading, Troutman Pepper, December 17,2021, Co-Author, SEC Proposes Rule Amendments to Improve Disclosures Relating to Share Repurchases, Troutman Pepper, December 16, 2021.