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Friday, Mar 29, 2024

SPECIAL REPORT: For Biotechs, Counsel From Startup to Acquisition

As the local biotech industry continues to blossom, law firms have developed to support the sector. Partner Brent Reinke established Musick Peeler & Garrett’s Westlake Village branch 13 years ago, around the same time the biotech cluster in the Conejo Valley began gaining traction. “I saw a really interesting opportunity in the life science space that I wanted to help promote, create and facilitate,” he said. In 2007, he formed the BioScience Alliance to host education and networking events for people in the industry. He also positioned his law firm as a resource for companies in or entering the business. Now, his office can serve a biotech company from startup through acquisition. For earlier-stage companies, Reinke can help form the corporation or limited liability company and set up equity incentive plans for employees. As the company grows, his firm handles third-party contract review, intellectual property and patent filings, real estate leases, venture capital and private equity financing. And finally, he can help with mergers or acquisitions. “At some level, representing a biotech company isn’t completely different than representing a manufacturing company or technology company,” Reinke said. “It’s kind of a similar process.” Some of his local clients include cancer and diabetes drug developer REMD Biotherapeutics Inc., bio-equipment company PBS Biotech Inc., both in Camarillo, and a local early-stage nutraceutical maker. In the beginning of 2016, Christie Parker & Hale in Glendale merged with Phoenix-based Lewis Roca Rothgerber to form Lewis Roca Rothgerber Christie. The union expanded the combined entity’s intellectual property practice and improved its patent litigation services. Lauren Schneider, a partner in the firm’s intellectual property group, said the move boosted its biotech business as well. “By building on our strength in intellectual property, the merger has enabled us to be the full-service law firm that biotech companies may need,” she said. Lewis Roca offers similar services to biotechs as Musick Peeler, but the majority of the work it is asked to do relates to patent strategy, counseling and procurement, Schneider said. The firm also partners with nearby labs and universities such as biotech incubator Lab Launch in Monrovia, where Lewis Roca provides sponsorship funding and guest speakers to discuss relevant legal issues. “We really like working with and supporting Lab Launch, because they are very focused on keeping researchers and their budding and emerging companies in the region and providing the resources they need to be successful,” Schneider said. In fact, the incubator will soon make a splash in the Valley as it will open another location, slated for early this year. The new facility, in partnership with Make in LA, will be located at the hardware accelerator’s Chatsworth campus. Reinke is also working on starting an incubator of his own called the Gold Coast Bio Center and is currently considering a facility in Camarillo for the project. If everything goes as planned, the approximately 15,000-square-foot location – which will offer shared and private wet labs, conference rooms and offices for about 10 startups – could open by the end of the year. “If we can get the Gold Coast Bio Center up and running, I think that could definitely attract even more attention to this area,” he said. – Stephanie Henkel

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