Date Closed

October 26, 2023

Value

80.00 Million CAD

On October 26, 2023, Otsuka Pharmaceutical Co. Ltd. ("Otsuka") completed its C$80 million acquisition and take-private transaction of Mindset Pharma Inc. ("Mindset"), implemented by way of plan of arrangement, through which all existing and outstanding shares of Mindset were acquired by 1435816 BC Ltd., a wholly owned subsidiary of Otsuka. The existing shareholders of Mindset received cash consideration in exchange for their Mindset Shares.

Otsuka is a pharmaceutical company headquartered in Tokyo, Japan.

Mindset is a drug discovery company headquartered in Toronto, Canada.

McCarthy Tétrault advised Otsuka Pharmaceutical with a team led by Matthew Cumming and Maureen Gillis that included Thomas Fung, Alexandra Comber, Vaib Aggarwal, Monika Satani, Angela Lizotte, Sandra Belton and Ernesto Aleman Vera (Corporate), Lisa Melanson, Vincent Yip and Jeff Sun (Intellectual Property and Product Regulation), Kate McNeill-Keller and Nicole Deniset (Labour and Employment), Kelleher Lynch and Julia Miller (Pensions and Benefits), Randy Schwartz, Matthew Kraemer, Jeremy Ho, Simon Douville and Kalev Tamm (Tax), Sarit Pandya and Sarah Murphy (Real Property and Planning), Kate McNeece (Competition), Michael Scherman (Privacy), Gajan Sathananthan and Oksana Migitko (Trade and Investments) and Lance Williams and Jennifer Choi (Litigation).