Morrison & Foerster advised California Cryobank, the world's leading donor sperm and donor egg bank, in the announced sale transaction to GI Partners from leading healthcare investors, Longitude Capital and NovaQuest Capital. In a related transaction, GI Partners entered into an agreement with AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) to acquire Cord Blood Registry (CBR), the world's largest stem cell collection and storage company. Following the close of both transactions, California Cryobank and CBR will join together in a newly combined company that will operate under the California Cryobank Life Sciences platform, bringing together best-in-class organizations to provide enhanced domestic and international expansion opportunities in both the donor reproductive tissue and newborn stem cell industries. The transactions, which were described by Private Equity Professional as "the coolest deal of the year," are expected to close in the coming months.
California Cryobank has been recognized as the premier donor sperm and egg bank since 1977. Together, more than 75,000 families have been helped by the company's donor sperm and donor egg banks. The firm has supported California Cryobank in general corporate matters, including three buy-side M&A transactions since we represented the principal investors, Longitude Capital and NovaQuest Capital, in their initial leveraged buyout of the company in 2014.
The MoFo team was led by Corporate partners Jay de Groot (San Diego) and Erik Knudsen (Denver), along with Corporate associate Shai Kalansky (San Diego).
For more information, please see the related press release.